Comment PreviewAuthorWSO Score*
Glad to hear that JP Morgan has discovered conditional...Glad to hear that JP Morgan has discovered conditional formatting69
Just one comment to Marcus. The way you describe... Just one comment to Marcus. The way you describe yourself looking down to people who somewhat lead a more "ordinary" life than you do is just an evidence of immaturity to me. (I am not saying that you are, just judging by the single comment above you appear to be). For instance, I have met a...58
This is the kind of BS that MDs absolutely LOVE to tell...This is the kind of BS that MDs absolutely LOVE to tell themselves: "I am hardworking and tough, sure, but I'm also really fair and I let people have lives when they tell me about it. This would never be my analyst." Maybe you are as good a guy as you claim. Maybe you're not. Either way, you...57
need real stories Last time I'm going to talk about...need real stories Last time I'm going to talk about this until I'm accepted to grad school: College: state school Major: Psychology, Ancient Religions GPA: 2.01 (out of 4, barely made it through) Internships: none Research: none Experience:...41
As someone who did two summers in investment banking at...As someone who did two summers in investment banking at the same top bulge bracket and subsequently turned down a full time offer, I want to echo what another poster wrote about being wary of greener grass. It never is. There are always tradeoffs. The truth is that few jobs are...30
I was let go from my first job late last year (mostly...I was let go from my first job late last year (mostly not my fault) and I figured, "screw it, top firm and great group out of college, I'll live." As the weeks went by and the air became colder, my bank balance withered and reality set in that I had failed at something. I hadn't been able to...29
Let's start with the basics. 1. Nothing is...Let's start with the basics. 1. Nothing is impossible. 2. Hope is not a strategy. At some point, the probability for a given event is low enough that you should consider it impossible. For example, I could tell you to go win the lottery which would give you the funds to start running an...28
ex cfo during the dot com period late nineties... The...ex cfo during the dot com period late nineties... The single most important choice you will ever have to really make is the person you marry. She can make you or break you. Don't pay attention to the pop psychology bull. No other investment can be anywhere as significant. And you don't just...28
If you have an accent see footnote If you don't have...If you have an accent see footnote If you don't have an accent, read the following: Talk to them like a person. Don't be nervous, don't put on a facade that isn't real. You'll get exposed in less than three minutes. Don't lie to them. Women are the best liars on planet earth, their...27
I am still young.. but still i realize that things like...I am still young.. but still i realize that things like this are so sad to hear about. not just because someone died, but also because they killed themselves for reasons that are so insignificant. (assuming the suicides were largely driven by academic pressure - grades, school workload,...25
Personally I don't think it's changed who I am but it's...Personally I don't think it's changed who I am but it's drastically changed how I live, and I'm older than the OP by a decade. The easiest way to conceptualize it when you're a college kid is that you drink cheap beer, cans of domestic crap, kegs, plastic half gallons of cheap vodka, etc. Maybe...25
Maybe it's because I'm from a different generation (not...Maybe it's because I'm from a different generation (not everyone got a trophy when I was growing up), but being a masculine male is still prized in my opinion. That doesn't mean being a sexist, racist asshole who feels like fighting and carrying a gun makes you a man (and I've been doing...25
I'm a macro trader/strat, but started my career trading...I'm a macro trader/strat, but started my career trading EM. Firstly, you clearly need to do some research on your own. If you're starting on an EM desk, you can learn a lot before showing up just by using google. Anyway, emerging markets traders can cover many products and focus on 1-4...24
6. Flip shit. I don't recommend this most of the time... 6. Flip shit. I don't recommend this most of the time but if you already have an exit in hand and you really want the night off, I've seen it work. A 2nd year analyst actually ran around the bullpen cursing when he was giving a deliverable Friday night which convinced the staffer to give him a...24
First off, congrats on the offer. Second, congrats on...First off, congrats on the offer. Second, congrats on losing the girl. She dumps you on one of the happier days of your still young life because you were partying too much? Unless by partying you mean you get drunk and beat her or tried to fuck her best friend, you're much better off without...24
I don't give a shit what other people think and I don't...I don't give a shit what other people think and I don't hang out with hippies. 24
I was actually introduced to the process while...I was actually introduced to the process while interviewing at Goldman. After stashing my topcoat in the secret behind-the-wall closet, the receptionist gave me the code for the men's room and told me to take my time - clearly she wanted me to go in and pinch a loaf. No one came in while I...23
could be an over generalization, but i think many people...could be an over generalization, but i think many people in our generation have a romantic vision of life in the working world, especially the corporate world. they think from day one they are going to have an impact, work on interesting and fascinating projects, and find some type of intrinsic...22
What the fucking fuck? Are you guys off your rockers? Do...What the fucking fuck? Are you guys off your rockers? Do so many of you really look at this and go, "What a bad idea! What kind of idiot would be so unprofessional? What if someone doesn't realise that it's a joke? Why is this guy wasting his time on this?" If anyone's reading this any...22
I have the 2nd edition models, with the included PPT...I have the 2nd edition models, with the included PPT instructions. PM me for link.21
I learned several things from this post that I found...I learned several things from this post that I found interesting. 1. Apparently, there are still people in this country with college degrees who only earn $42,000 per year. 2. The kid who mentioned how much he was getting paid was a douche for telling the whole class his pay level. He...21
Examples of good penis jokes? Look down. Examples of good penis jokes? Look down. 20
This is pretty common. I went through the same...This is pretty common. I went through the same evolution and it took me a couple of years to realize that it had even happened. It is a terrible feeling when you wake up one day and realize that you're an asshole. You want to go back and apologize to all of those people that you degraded but...20
@"mbavsmfin", yet again, you are commenting on something...@"mbavsmfin", yet again, you are commenting on something you have no clue about. I tend to agree that MBAs should look at banking as a career choice, but the reality is that only 50% of the associates we hire make VP and only 10% will make MD (at any bank). They need to exit...20
I can see the future WSO threads... Is it more...I can see the future WSO threads... Is it more prestigious to structure your marriage as a cayman or delaware limited partnership? What kind of pref and carry terms are appropriate for an 8/10 wife? 20
You probably should have asked this question in...You probably should have asked this question in elementary school, going to be an uphill battle from here.....19
if 20 people reply or toss some sb;s I will tell storyif 20 people reply or toss some sb;s I will tell story18
The issue of getting girls has come up more than once...The issue of getting girls has come up more than once lately. I've been everywhere of recent...out of school close 2 yrs now, so i remember what it was like in college, know how things work in terms of personalities on the street, etc. worked in BO, work in FO,etc. I saw a post a few weeks ago...18
The fact that this guy went to Georgetown and calls...The fact that this guy went to Georgetown and calls himself "fratty" is hilarious, Georgetown doesn't even have Greek life. GEED18
I'll share my experience. I quit a partner track alts...I'll share my experience. I quit a partner track alts gig that would make many of the kids on this forum drool. I quit to pursue entrepreneurial opportunities within finance/the buy side. I was both burnt out and had the same existential issues with the job that you do. I figured I could build...17
I dated a co-worker. 12 years later, she's my...I dated a co-worker. 12 years later, she's my wife. ie this can only end in unhappiness17
What the fuck is wrong with these people? Intellectual...What the fuck is wrong with these people? Intellectual curiosity? Animals hunt. That's what they do. They need to eat. As they near adulthood, they're taught by their parents how to hunt/provide for themselves. As human animals, we don't need to hunt to provide for ourselves. We need...17
Do you guys have similar experiences? How do you guys...Do you guys have similar experiences? How do you guys internalize this? What is a healthy reaction to this? I run to the bathroom and cry. About 10 minutes later, I emerge red faced, point at the person who made the comments and demand they leave the venue. My voice becomes more and more...17
Good...good....Let the hate flow through you.Good...good....Let the hate flow through you.17
Wait...you think b-school is going to teach you 'in...Wait...you think b-school is going to teach you 'in depth modelling skills'? B-school teaches you advanced undergraduate-level finance. It does the same for marketing, accounting, organizational behavior, etc. It definitely does not teach you advanced modelling skills that are beyond what...16
I just look at it as another way to let my classmates...I just look at it as another way to let my classmates know I'm better than them.16
Sorry to hear that man. Don't really have any advice,...Sorry to hear that man. Don't really have any advice, except telling him you'll be in at 7:01am tomorrow because his ex-wife took a long time in the shower.16
i read an article that they believe he killed himself....i read an article that they believe he killed himself. No offense, if you're going to kill yourself over a job your priorities in life are really screwed up. I learned a while ago to take your job seriously, but not beat yourself up over it. Life's too short. Doesn't mean don't be great at your...16
Suppose I can help you. In terms of what to put on your...Suppose I can help you. In terms of what to put on your resume, almost every IB resume I've seen included a "transaction experience" section. In the section, usually its 1 sentence per deal, and sometimes analysts will include their specific roles, and some will just list the deal. If the...15
Yes, there are tremendous opportunities in Asia right... Yes, there are tremendous opportunities in Asia right now, reminiscent of the US in the 30's and 40's. IPO's are sprouting up left and right, entrepreneurs can (and often do) go from nothing to a net worth of 8-9 digits in 3-4 years. BUT, some things I've noticed: 1) A lot of *extremely*...15
Funny story of my own - I lived relatively close to a...Funny story of my own - I lived relatively close to a well-known actress and happened to see her every once in awhile leaving my building. funny celeb hookup story of my own - I googled "anna kournikova" and her pictures gave me a boner 15
I don't think those courses are necessary in the...I don't think those courses are necessary in the slightest. Stephen Moyer's Distressed Debt Analysis, while geared towards the investing side of distress, has a great overview of the bankruptcy system and the mechanics of debt. I'm sure having done interview prep, you all have probably read...15
Depends on whether you work for a Renaissance, Fortress,...Depends on whether you work for a Renaissance, Fortress, Citadel, or DE Shaw, or if you work for one of the more boutique funds. The large funds tend to be running stat arb and HFT, and yes that requires some programming skill and quant background. The smaller shops tend to involve MBAs...15
The investment strategy is 98% identical across the...The investment strategy is 98% identical across the board. The difference is very slight nuances in approach and how they do their work". Bain for example, likes to buy brands (like Dunkin Donuts, Toy R Us, etc), KKR probably falls into this fray somewhat too. That's about as much as I...15
Post pics of both girls and set up a poll, you're in...Post pics of both girls and set up a poll, you're in good hands here 15
My first PE interview, I had no business being there. I...My first PE interview, I had no business being there. I was interviewing with a fund that basically only hired consultants, and the interview format was case study based. I had never done a case study in my entire life up until that point but I figured what the hell, an interview is an interview...15
ContemplatingBanker – I read your post and empathized...ContemplatingBanker – I read your post and empathized very strongly with what you wrote. I have been in a similar place myself and, in some of my lowest moments, remember reaching out to a few trusted advisors and getting literally nothing back from them. Despondent about this, I hunkered...14
it'd be pretty funny if there was a site similar to WSO...it'd be pretty funny if there was a site similar to WSO where girls write stuff like: "How I went from 10 rejections to one dream sugar daddy", "Acing the first date with an Investment Banker", "Life after sugar dating - the suburban roads", and "15 things I wish I knew in my first sugar...14
I've seen a lot of people who moved to Thailand with...I've seen a lot of people who moved to Thailand with this in mind. Usual life path: 1. Marry a local Thai lady 2. Buy property in Thai lady's name (as foreigners generally can't own property in Thailand) 3. Get fat, smoke too much pot 4. Have child with Thai wife 5. Get shaken down by...14
THANK THE LORD I finally passed Level II - was my third...THANK THE LORD I finally passed Level II - was my third attempt. Fuck yes getting mangled tonight boyssss14
Passed Level II! Did a lot better than I thought. What a...Passed Level II! Did a lot better than I thought. What a relief! I feel like Andy Dufresne climbing out of a half-a-mile long, shit-filled pipe. 14
I feel you. I am also a man of God, which makes it a...I feel you. I am also a man of God, which makes it a huge challenge to work in this industry of sin. One time while working in sell-side research I bumped into an investment banking associate who used to cover my sector. We briefly exchanged greetings without a compliance chaperon as we stood...14
Don't just take a step back and look at the bigger...Don't just take a step back and look at the bigger picture, take two steps back and look at the biggest picture. Life’s a crazy ride and you don’t get to know when the ride ends until it’s time to get off, so don’t waste it being pissed off because you didn’t get an offer from GS. I...13
Ok Tek, I feel the need to show you that I'm not just a...Ok Tek, I feel the need to show you that I'm not just a troll and point out the folly in your ways, and how you managed to leave a sour taste in pretty much everyone's mouth from a short 1 paragraph post: Free lunch to anyone in JPM, BoA- ML or GS in Toronto This thread went sideways from...13
I wan't to be the very best Also very rich dun dun...I wan't to be the very best Also very rich dun dun dun dun to get all the 100s in my walllett to buy bottles is my cause dun dun dun dun i will travel across wallstreet fucking main street over each 100 that i get to release by baller in side! wall street! its you and me i...13
I worked at one of MBB for three years, and know many...I worked at one of MBB for three years, and know many people from both of the other two firms (I'll try to keep hidden which one I worked at in this post, but that will probably be difficult). Before getting into my views on the three firms, let me caveat all of this by saying that all...13
I can't answer if PE is the best job in the world but I...I can't answer if PE is the best job in the world but I can offer a little outside perspective that some may be interested in. Having spent the better part of the last decade in SEAL Teams and other specialized units, I found Seabird’s initial post slightly amusing. If you’ll humor me,...13
From a friend: $70K base for your first 18 months...From a friend: $70K base for your first 18 months (stub year plus first full year) $80K base for your next 12 months (full second year) $90K base for your last 6 months (Jan-June third year) 1st bonus after your first few months is flat across first years and is slightly less than...13
Very sorry to hear about that man that's awful. On the...Very sorry to hear about that man that's awful. On the flip side, this is certainly something you can recover from, as always a man is defined by what he can come back from. With that said here are some good steps. 1. Knowing you have a positive vibe with your previous employer immediately...13
It's hard to provide an intelligible answer to a...It's hard to provide an intelligible answer to a question as vacuous as "is competition **artificially** inflated". What could possibly be the meaning of "artificial" in this context? What is a "natural" level of competitiveness, if not the level that organically emerges? And then your follow...13
A taco for a taco sounds like an even exchange to me.A taco for a taco sounds like an even exchange to me.13
If someone asks you what is your greatest weakness is,...If someone asks you what is your greatest weakness is, you should tell them you're a dick.13
Vagina here. Sorry that your workmates are such cunts. I...Vagina here. Sorry that your workmates are such cunts. I apologize on the behalf of my sistren. The solution here is clear - back off. Be professional, curt, and fake to your female coworkers, especially your superiors. Most male superiors love to be called out, schooled, what have you, but...13
I don't think it's a bubble, I think parents, teachers,...I don't think it's a bubble, I think parents, teachers, and kids need a better understanding of what the realities are and plan accordingly. $25k is a lot, but I graduated with more than that, took a salary that most of this board would laugh at out of UG, and still made ends meet, it's...13
"You have to Greece the pan before you fry the PIGS""You have to Greece the pan before you fry the PIGS"13
Gentlemen, I believe the realization that he was...Gentlemen, I believe the realization that he was married to a whore who would go live out her anal fantasies with the entire city's baseball team while he was busy building a future for his family is the one and only reason why this man is down. I really am very sorry for him and hope he gets...13
From my experience, the best analysts are the guys who...From my experience, the best analysts are the guys who catch on quickly and are able to grasp the "bigger picture" concept. I mean "catch on quickly" in a very broad sense -- it certainly applies to modeling and becoming efficient around Excel/Powerpoint, but those are pretty indirect -- they...12
I came by this thread wanting to add my two cents, but...I came by this thread wanting to add my two cents, but then I realized that every bit of knowledge I wanted to add has already been dropped by TheKing, bankbank, Kenny Powers, and apprentice7697. I've scattered about 10 SBs throughout the thread agreeing with you guys. TheKing summed it up...12
I was at one of the major banks during the implosion. ...I was at one of the major banks during the implosion. Still not comfortable talking about which firm I worked for and EXACTLY what it was like, but let's just say that if you worked in fixed income pricing and analytics, the phones were ringing off the hook near the end of the second week of...12
Wall street bankers talking about how much they make is...Wall street bankers talking about how much they make is like porn stars talking about their dicks. Everyone knows it's huge and it lets them fuck a ton of women, but talking about it won't make it get any bigger and just pisses off those who aren't as well endowed. 12
No... the structure would be as follows... The LLC acts...No... the structure would be as follows... The LLC acts as the management company and serves as the General Partner for the Hedge Fund which is structured as a LP. I want to open a hedge fund. I hire an attorney and pay all the fees to open up Frieds Capital Management LLC. Their job is to...12
Here's the real answer to your question. One day,...Here's the real answer to your question. One day, when you're a bit older, you'll take a course on logic, and you'll learn that to defeat an argument, you must either attack the predicates or the logic itself. Your logic is reasonable, but I reject your predicates. One of your main...12
Let's start with the basics. 1. Nothing is...Let's start with the basics. 1. Nothing is impossible. 2. Hope is not a strategy. At some point, the probability for a given event is low enough that you should consider it impossible. For example, I could tell you to go win the lottery which would give you the funds to start running an...12
Oh please. OP, here's a list for you: Silly shit...Oh please. OP, here's a list for you: Silly shit assistant vice presidents do: 1) go on wall street oasis and write posts complaining about the silly shit their interns do. The end. There was a day when you were an annoying little intern shithead, too. So was I. Do the right thing...12
Are you guys seriously arguing that an NFL cornerback...Are you guys seriously arguing that an NFL cornerback and former head of the NFL Players Union should be less impressive to an AdCom than Analyst #78 in Goldman Sachs Industrials, Waste Management and Utilities silo who interned at the Boys and Girls Club once a month? This site is ridiculous.12
Tough call - I have my thoughts to share, and they are...Tough call - I have my thoughts to share, and they are relevant, but perhaps no clear cut answer at the end of it either. A few years ago I was in a similar position to you: I had a pretty well paid + somewhat respectable job in finance, but for various reasons I became desperate to...12
Well, theoretically, you determine the appropriate...Well, theoretically, you determine the appropriate required return using the weighted average cost of capital. You would find the cost of equity, specifically, using the capital asset pricing model (CAPM) or the fama-french 3-factor model (FF3). At least, that's how you'd be taught in school or...12
Excellent thank you. SBed. A few more questions for...Excellent thank you. SBed. A few more questions for anyone who cares to answer. 1. What are the top PE shops out there outside of the MFs? 2. When and how should an analyst start prepping for PE interviews? 3. Having gone through the process, what are a few things you wish you had known...12
I don't want to rain on your parade, just give...I don't want to rain on your parade, just give perspective a few years (gulp... already? time accelerates with age!) down the road of having done the same. I gave up a shot at a commodities trading career (not futures, the proper physical stuff a la Glencore, etc. - posted a bit about it here...12
Everyone replying to you thus far are a bunch of tools,...Everyone replying to you thus far are a bunch of tools, don't listen to them. I get that you're offering up what they're referring to as "excuses" in order to signal that you're not dumb and you can be high achieving if you apply yourself. You have to understand the people posting on these...12
Classic case of the mis-pricing phenomenon called...Classic case of the mis-pricing phenomenon called 'jelly', which tends to cause a lot of confusion, but also creates room for arbitrage given the right analysis. Let's dissect and disseminate, and see if we can make some sense of this tragic crime against modern-day vanity. Let's assume your...12
How good is big 4 consulting out of top 15 mba schools?...How good is big 4 consulting out of top 15 mba schools? I always thought that it was a huge step down for grads from top 15 programs, but the money does look appealing. Depends, it's a complicated question. Deloitte S&O is almost as good as MBB (although still decently far away),...12
I have a kid and will have more than one at some point...I have a kid and will have more than one at some point in the near future. I couldn't imagine having a kid as a junior, but I am home much more now (than analyst/associate years) and have 0 interest in hanging out with anyone other than my family after I leave the office. Sure, sometimes I need...12
Nothing wrong with being a career banker. I almost went...Nothing wrong with being a career banker. I almost went that route (i.e., was a VP at a BB) and love banking work. Believe it or not, some people actually enjoy having clients, seeing deals through, and getting paid a pretty penny to do it. It's important to note a few things. Not many high...12
MBA students are socially confident In social... MBA students are socially confident In social settings, the law students are awfully awkward and geeky and stick out like sore thumbs. Perhaps it's due to the fact that many of them are straight out of college and thus haven't refined their social savvy in the real world. They would make...12
I was going to be done with this thread, but saw this...I was going to be done with this thread, but saw this article and saw the above article and felt compelled to chime in one more time. 1) The best jobs are easily obtained from top schools - Fact and isn't going to change. With affirmative action and Ivy's trying to socially engineer their...12
fap it out fap it out 12
The fact that you would make a post like this implies...The fact that you would make a post like this implies you have zero social intelligence anyway so I would just go for high gpa12
In my early 20s, I really believed that in order to...In my early 20s, I really believed that in order to succeed all you need is work really hard. You gotta be gritty to succeed. You gotta put in long hours to be successful. You gotta be very good at technical things and establish yourself as a thought leader in particular domain. I don't think...12
I think you guys should really be careful before you...I think you guys should really be careful before you select Investment Banking as your career on any of these dating sites. It was nearly four months ago that I first created my profile on match.com. I'm no Jonas brother, but consider myself a decent looking guy. Anyway, I selected investment...11
Respond with: "Hehe, good one bro. See you in summer."Respond with: "Hehe, good one bro. See you in summer."11
I'm going to speak very freely and candidly here and...I'm going to speak very freely and candidly here and will probably end up disclosing more personal information than I should on an anonymous bulletin. I am a black male with a fairly strong GPA and a 99th percentile GMAT. I am an alumnus of the SVMP program at HBS and aim to matriculate into...11
You asked why there isn't more diversity on the street...You asked why there isn't more diversity on the street given that only 'average talent' is required. Here are my thoughts. One: you have to have a complete package to get hired. Elements of a complete package: connections, grades, prior experience, relevant knowledge (interview prep),...11
Inequality really isn't an issue. Let's not forget the...Inequality really isn't an issue. Let's not forget the natural state of man is poverty, not wealth. The reason for decreased mobility is more a function of intelligence begetting intelligence than anything else. Smart people are seldom poor, poor people are seldom smart, granted there are always...11
"We wore our sweaters in case you were deaf and couldn't..."We wore our sweaters in case you were deaf and couldn't hear us tell you we went to Harvard."11
I didn't retain any of it, because it was pump and dump...I didn't retain any of it, because it was pump and dump for a stupid test. This is the reason you failed. That you honestly believe this is precisely why you failed. The exam did exactly what it was supposed to do: weed out the children who haven't learned to take responsibility for and...11
In my analyst days I downed a corona or two and would...In my analyst days I downed a corona or two and would come right back upstairs and crank on a model for a $4 billion LBO. How many billion dollars was that kid worth? My deal would have made my bank like $20 million... that surgery probably cost like $50-100k. He has NO prestige. What a tool,...11
The NYC liberals are at it again. The low income people...The NYC liberals are at it again. The low income people who can live in this building or any other luxury building in NYC should count their blessings for winning this lottery. They pay only like 20% of the market rent while the rest of us have to bust our ass off to get a halfway decent place...11
in order of importance 1. prestige 2. quality of...in order of importance 1. prestige 2. quality of shoes worn by analysts (are they cole haan or is everyone rocking gucci & ferragamo) 3. ratio of hermes ties to southern accents (ideally you want this to be unsolvable, because you can't divide by zero) 4. location of investor...11
I remember once I went down to the printing room to get...I remember once I went down to the printing room to get some pitch books for my so-called "MD". The dude looks at me and goes, "You come here all the time, I printed your books for free." I was like, "Man! What do I look like? A charity case?" I took it... and THREW IT ON THE GROUND. I...11
Her preference for facials is probably what led her to...Her preference for facials is probably what led her to Asset Management, where it's all about client service. The IBD division went for the kids who preferred taking it up the ass. 11
Sorry to call you out @"mbavsmfin" but.....Direct quote...Sorry to call you out @"mbavsmfin" but.....Direct quote from you in a similar thread in 2013 that I just stumbled upon. "Sounds lame to me. Bunch of MBA douchebags and mediocre looking MBA girls going on an overpriced yacht trip when they don't have income coming in. Give me a fucking break." ...11
Do you put "future non-virgin" on your Tinder profile as...Do you put "future non-virgin" on your Tinder profile as well?11
Dude, what is wrong with you?Dude, what is wrong with you?11
There aren't many blacks in banking because black people...There aren't many blacks in banking because black people are scary. Not as scary as Chinese people, but still pretty frightening. But on a more serious note (I don't think black people actually are scary), if you lump black in with lower income and assume they get into a top college that is...11
the bike guy justify his action by saying "its only one...the bike guy justify his action by saying "its only one stop" "its only one stop" Correct response would be "Then ride your fucking bike there" 11
Tell them how awesome the closing dinner at Taco Bell was. Tell them how awesome the closing dinner at Taco Bell was. 11
no I'm actually not trying to start trouble at all. Just...no I'm actually not trying to start trouble at all. Just curious to see how I stack up. Pinky, you should post a picture of one of your friends that all your other friends say your prettier than and we'll tack on an extra .35 out of good faith. Some of the comments might sting but they'll be...10
I don't think the site is a very accurate reflection of...I don't think the site is a very accurate reflection of life on the street at all... maybe that's because I don't work with prestige-whore douchebags tho... As surferdude mentioned, you will see a lot of junior guys who "get it," whereas all the college juniors/prestige focused kids on this site...10
how much shit do you have to go through? How many times...how much shit do you have to go through? How many times do you have to fail in order to succeed? Wish there was an easier answer but the truth is "as much as it takes." You only need one yes. Try reaching out to a few mentors for an honest assessment of what you are doing wrong. It is...10
I have only worked for one female boss in my finance...I have only worked for one female boss in my finance tenure, thus I only have the following anecdotal evidence: So I'm a first year analyst sitting in a management presentation for this sellside deal we're working on. The VP on the deal is a female - and a pretty smoking one at that. ...10
coolstory, bro. tell it again. I'm gonna start off by...coolstory, bro. tell it again. I'm gonna start off by talking about myself a little bit. I'm 16 years old and I'm a junior in a high school in the suburbs surrounding NYC (Long Island). I come from a working class family where we get by, but things can get pretty tight at times. I really have a...10
Let me preface this comment by stating that I detest the...Let me preface this comment by stating that I detest the Ron Paul movement, mostly because the movement attempts to rigidly apply ONE 18th century governing domestic and international philosophy to 21st century America without so much as acknowledging that 1) the Declaration of Independence and...10
Most of what's been said already is pretty accurate. If...Most of what's been said already is pretty accurate. If you want to do anything accounting related, including FP&A, there's no question that Big 4 is one of the best places to start your career. In fact, I'd even argue that there are certain advantages to Big 4 that investment banking doesn't...10
This doesn't surprise me at all. This is going to sound...This doesn't surprise me at all. This is going to sound like a hater post but it's not intended to -- this post is based on 7 years of experience in the industry and watching plenty of H / S / W MBAs flounder after graduation (post-Lehman). I can only really speak about the particular niche...10
Out of curiosity, how competitive is JPM Private Banking...Out of curiosity, how competitive is JPM Private Banking or even Private Banking in general, relative to IBD? Within PB, I would say JPM is the most competitive, with Goldman a close second and CS coming in third. As far as relative to IBD, no, it is not as competitive as IBD. But it is...10
Part II So it’s month 5 and I’m sitting in a café...Part II So it’s month 5 and I’m sitting in a café in Bogota talking to an American who’s passing through on break from B-school (Yale SOM). This person proceeds to tell me that they did an internship in IB and were contemplating an offer to return. We exchanged stories, and they...10
Yes, exactly. Though you'll use credit docs for lots of...Yes, exactly. Though you'll use credit docs for lots of other purposes greater than just putting together a cap table (more on this later). The credit doc will help you populate the cap table by providing the following (and more I'm probably missing) useful info: - Principal amount -...10
CRE's (Semi-Serious) Guide to Having Presence in...CRE's (Semi-Serious) Guide to Having Presence in Interviews (With Extra Expletives for Effect) Listen up, slidejockey, you nervous, non-talkative, sweaty, meek little man, because I am a behind-a-keyboard badass and I am going to save you from yourself and your homoerotic WSO name with...10
I'm a first year analyst in corporate banking. I'm not...I'm a first year analyst in corporate banking. I'm not sure how Citi structures their CB department but as a first year analyst, you'd be focusing more on underwriting transactions and monitoring the debt portfolio rather than schmoozing clients. A first year analyst would have no idea how to...10
And as promised, here's my story... Hopefully this helps...And as promised, here's my story... Hopefully this helps at least someone because I just wasted an hour when I should've been reading lol MY BACKGROUND I’ll be honest, I essentially tanked summer analyst recruiting last year. I had non-noteworthy stats (3.6 gpa, wealth mgmt. internship)...10
I have had some experiences in M&A and coverage in...I have had some experiences in M&A and coverage in London and Frankfurt, hence these are the two cities I can comment on. There's plenty of information on London which is why I will focus on Frankfurt. 1 Leading players: It's basically the big players that you see in London and NYC, some are...10
Buying a home Getting married Having children Being...Buying a home Getting married Having children Being Republican or Democrat Endless consumerism These are all constructs meant to enslave people. Plain fact is buying a home is a liability in this economy. I will caveat this if you buy a condo/town home in a good sized city. You can easily...10
Our trading strategy is event driven. For example, when...Our trading strategy is event driven. For example, when there are gunshots outside we stop trading.10
On a side note, I do rather like the "choose your own...On a side note, I do rather like the "choose your own adventure" WSO edition of the post. Re-reading it, you could infer: ...that OP bought her a taco and took her back to her place and either: (a) banged; (b) murdered; or (c) tickled her... ...in the morning he felt guilty and...10
A better metric is the fact that I can sit on a beach...A better metric is the fact that I can sit on a beach all day drinking, and fucking blondes. Yet you're on an internet forum arguing with strangers.10
I'd also add to this that there is a fairly common...I'd also add to this that there is a fairly common psychological phenomena where almost everyone, even the extremely wealthy, don't consider themselves wealthy at all. If my memory serves me right its for two main reasons: (1) as your income rises, as does your social circles and view of...10
This is a great link and I would encourage others to...This is a great link and I would encourage others to read it. I think one of the key things for developing successful relationships is to establish expectations and figure out compatibility early on. This is, admittedly, an incredibly difficult thing to do, especially when your judgment is...10
The ones that put the bulge in bulge bracket. You want...The ones that put the bulge in bulge bracket. You want the beefy ones that really make your resume pound its way to the front of the pile. The competition for these ones is stiff, and you'll probably just want to explode if you don't get these positions, but you'll feel an immense relief if you...10
Everyone has a story to tell. Some stories are amazing,...Everyone has a story to tell. Some stories are amazing, some stories are bland, some stories are funny, etc. But...EVERYONE has a story to tell. Your job at a networking event is to be a reporter and "get the scoop." DO NOT turn this into a verbal LinkedIn Profile. Don't ask about work...10
Yeah, keep your head up - and realize there is a skewed...Yeah, keep your head up - and realize there is a skewed perspective of the world and careers among a lot of college students (esp. people on this website, and funnily enough especially people who've never done banking - the kind of people who will say GS or bust, I'd never work at a place like...10
Former Wells Fargo Employee*Former Wells Fargo Employee*10
some of the strangest people post on wsosome of the strangest people post on wso10
Are there any guides on here for getting a top...Are there any guides on here for getting a top girlfriend? Think banker/lawyer/doctor. I really don't want to go mid-tier and settle for engineer/accountant, but friends with target girlfriends told me sometimes you can start there and lateral. Any guidance? PS: freshman in HS so take it...10
edit: I thought this was a general discussion, not a...edit: I thought this was a general discussion, not a specific timing question. short answer: no, "now" is not the time because you should never time the market. agree upon your net worth's % of real estate and stick to that. I realize all of my below comments are irrelevant but I wanted to leave...10
Congrats on getting in! As a current bschool second...Congrats on getting in! As a current bschool second year (T15, not M7), I can help shed some light on your question. I was in consulting before school and am exiting school to an industry role. Bottom line, consulting does give you the most flexibility a couple of years down the road in that...10
This article really hits the spot, especially since I am...This article really hits the spot, especially since I am a big fan of broad sweeping generalizations about large groups of people (which all just converge to one homogeneous blob), as well as vague catchphrases like "hard work" and "follow your dreams" and "earn it". Everything is so clear now.10
B-Po: Corporate Credit Risk for FIG. Dude you... B-Po: Corporate Credit Risk for FIG. Dude you don't count. Front-office banking please. This is outrageously comical considering you, the OP had to LIE on your resume to get your current investment banking gig at some no-name shitty boutique. I especially applaud you for putting down...10
Flewbye, you mention there are a lot of positives and...Flewbye, you mention there are a lot of positives and negatives to the military. I would love to hear some of the negatives. On the surface you flew planes for 9 years, traveled all over the world, experienced some incredible profound things and now 95% of your MBA is being paid for at a target...10
Two girls at the same timeTwo girls at the same time10
While her looks have declined significantly since 2007,...While her looks have declined significantly since 2007, I'd still hit it. 10
Living in the region, I think you can basically split...Living in the region, I think you can basically split major cities in these categories: 1. big important global hub (NYC, London, Tokyo), 2. smaller "suburban" like first world (Sydney/Melbourne, SF, Chicago, LA, Singapore), 3. second world (Shanghai, Beijing, HK, maybe Bangkok and KL,...10
#1- the industry has been and always will be highly...#1- the industry has been and always will be highly volatile with low job stability; this isn't something new. I was reading an article in the throes of the credit crisis about lay offs on wall street and how this marks a major paradigm shift in Wall Street excess and culture and will shake the...9
First off - do NOT go into banking for the pay. When...First off - do NOT go into banking for the pay. When you've been getting 3 hours sleep a night and have to deal with inane requests from your seniors, the pay doesn't make you happy. Banking in London is very similar to that in the US. The main difference from a recruiting point of view is...9
People are questioning how to fast track and become a...People are questioning how to fast track and become a PM. The answer to this is that you shouldnt fast track - that is, unless you want to lose money. Look at the most successful and profitable HF manager in the world - Ray Dalio of Bridgewater Associates. Ray took home $3.9 billion last year...9
Pshh. If WSO has taught you anything, it should be that...Pshh. If WSO has taught you anything, it should be that your probability of getting a job is a direct function of how many random people who don't want to talk to you that you stalk by locating their contact info on the internet without their knowledge and then pester with e-mails and phone...9
My apologies for the length of this… it’s simply a...My apologies for the length of this… it’s simply a fluid thought that may or may not make any damn sense… TLDR: About to turn 27, live in the bedroom I grew up in, unemployed for almost a year, completely lost About a year ago I was let go from my job at a startup tech/energy...9
Preempting all the other responses here: -First couple...Preempting all the other responses here: -First couple posts will ask what city these offers are for. -Several people will call into question whether or not BAML and JPM are generalist, as those guys normally place SAs into groups. -Nobody will tell you to pick BAML. One asshole will tell...9
Shoot me a PM with your email address. I'll mail you a...Shoot me a PM with your email address. I'll mail you a dropbox link.9
I am a frequent poster under another user name that has...I am a frequent poster under another user name that has been on this site for several years. I am going to weigh in on this from an anonym. account as I do not want to reveal too much about who I am. If you want to discount what I say, feel free, but what I am listing is the 100% truth. Most...9
Seems every week or so there's a post of this general...Seems every week or so there's a post of this general variety on WSO. I get the point and agree with the general notion, but in the end most of these posts (including this one) just come off as "Look at me, I'm more badass than you." You're preaching to the choir. There are some exceptions,...9
No problem and thanks for the kind words. I leave the...No problem and thanks for the kind words. I leave the valuation/forward model until the end for a few reasons: 1) I want to know as much about the business and my thesis as possible before I make any projections. Projections are at best an educated guess and the earlier I make them in the...9
It's tough to provide concrete rankings because there...It's tough to provide concrete rankings because there has been so much movement in the space, but I'll take a crack at it. I'll break them into tiers though Tier 1 Barclays - Has historically been and still is tops in Houston. Lots of questions moving forward for these guys though and a...9
1. Get yoked 2. Get drunk 3. Slam hotties 4. Don't go...1. Get yoked 2. Get drunk 3. Slam hotties 4. Don't go greek 5. "Thirsty Thursdays" If you are concerned with half the shit above in the prior lists, you are not having enough fun in your last years of freedom. There's always B-School though.9
Only if you intend to pull out a silenced Glock and...Only if you intend to pull out a silenced Glock and execute the interviewers.9
DickFuld: Goldman Sachs: ass holes JP Morgan: ... DickFuld: Goldman Sachs: ass holes JP Morgan: commercial bank Morgan Stanley: Dean Witter Lehman Brothers: phenomenal, innovative Bear Stearns: poor, hungry Merrill Lynch: stock brokers Credit Suisse: former DLJ Deutsche Bank: German owned That about wraps it up. A couple...9
Congratulations for overcoming adversity but let's drop...Congratulations for overcoming adversity but let's drop the ego-mania. Claiming your friends have "no ambition to do anything" because they work in what you consider to be vanilla jobs is just ridiculous. There is nothing wrong with the individual that works their way up from 30K/year and...9
I love these threads so much. Seriously. The answer...I love these threads so much. Seriously. The answer is absolutely that direct to the buyside is becoming more accessible to kids at the top targets. Just as resources like WSO, M&I, etc. have made non-target kids more competitive for banking spots these same resources are making Harvard and...9
High capex due to plastic surgery for your wives. I'd...High capex due to plastic surgery for your wives. I'd class that under maintenance capex, save for boob-jobs, they're expansionary. 9
They both often invest in semi-distressed companies, the...They both often invest in semi-distressed companies, the only difference is that in Apollo's case, its intentional.9
That "reporter" did a really shitty job. 1. Its not...That "reporter" did a really shitty job. 1. Its not DJ Tiesta, its Tiesto. Discredit #1. 2. Mixing IBers and Hedge Funds is completely different. A big hedge fund isn't going to have the same expense policy as an IB. And at this day in age, no one at a BB is going to spend $100k...9
Finally, another metric to compare Banks/ Groups! I hear...Finally, another metric to compare Banks/ Groups! I hear that Goldman TMT places best inside the secretaries but if you're ultimately trynna fuck your boss's wife MS M&A is still the way to go. 9
I've always wondered what George W's was. After going to...I've always wondered what George W's was. After going to Yale then HBS and his dad buying him a baseball team, all of the sudden he quits drinking at 40? I think he screwed a tranny at his birthday party, woke up and thought fuck, I gotta give this up. I call it a "fucking the tranny moment"...9
I'd just ignore anyone who's ever helped you in the...I'd just ignore anyone who's ever helped you in the past. You're right, your parents are losers because they're not finance ballers. Fuck them. Absolutely kidding. I'd largely ignore extended family back in the home country. There probably are too many of them and they'll all start spawning...9
You fucking bake your breakfast everyday? Hats off to...You fucking bake your breakfast everyday? Hats off to ya Marry Poppins.9
strip clubs/strippers/prostitutes should not might... strip clubs/strippers/prostitutes should not might as well just throw it at chuck-e-cheese 9
I think that you would be hard pressed to come up with a...I think that you would be hard pressed to come up with a simplistic example that perfectly explains beta to a 7 year old. If it was possible, then that's probably how beta would be defined in the first place. As long as you convey the sense that you know what you're talking about you should be...9
Where in the country is the best balance between high...Where in the country is the best balance between high salary and low cost of living in finance? I'm saying potential to make $300k-$500k+, work hard but not insanity. Weekends free, good 50-60 hours a week max monday - friday. Oh is that all you want?9
I don't trade energies, but if you're talking about...I don't trade energies, but if you're talking about trading physicals, ask yourself these questions: -Can you live in a multi-task environment, where you bounce from one issue to the next, sometimes bouncing back and forth within the span of a few minutes, and not go crazy? -Can you...9
Probably gonna get MS thrown but are you guys serious?...Probably gonna get MS thrown but are you guys serious? Guy is a belligerent drunk sleepin on the sidewalk doing drugs and fucking old women. What exactly is attractive about that? Because he's not a belligerent drunk sitting in a cubicle popping Adderall and not fucking anyone?9
I really really really want to just say "suck it up,...I really really really want to just say "suck it up, you've got a lot going for you, college is awesome, blahblahblah" and all of that's true, but I'll come at this from a different angle, try to give some tangible things you can do to help. it's a given that college is hard, and it's a...9
I truly believe that many of our country's current...I truly believe that many of our country's current social issues can be traced back to the epidemic of men becoming too feminine. Can we clarify whether we're talking about all American men, or just white American men? Based on what I've seen in my first 9 months in this country, I suspect...9
Spending the first two years post-college investing in...Spending the first two years post-college investing in your career is the absolute best thing you can do for yourself long term. The first couple of years can often dictate the path you're on for your entire career. You're right, it is going to suck. You're going to work long hours. You'll...9
I tell people I'm a presentation formatting professional.I tell people I'm a presentation formatting professional.9
I've decided to not kill myself for another year.I've decided to not kill myself for another year.9
I might be able to provide a little insight. I was in a...I might be able to provide a little insight. I was in a special operations unit in the army, and have been overseas a handful of times. I worked in a pretty dangerous job, even for the army, and unfortunately lost several very dear friends. My life became a bit of a shit show for a while, and I...9
What's the difference? In both jobs, she'll be getting...What's the difference? In both jobs, she'll be getting fucked all day for money and most people will hate her for her job. ................ The only difference between porn and Wall Street is that the guys in porn have bigger dicks. ................ I guess now she can sleep her way...9
I agree with almost everything the author is saying, but...I agree with almost everything the author is saying, but it goes back to the whole generational disconnect--Baby Boomers and Gen-Xers had access to lower inflation-adjusted real estate, college and health care costs, and their peak economic times were during 25 years of unprecedented economic...9
Great post, the preponderance of which rings true from...Great post, the preponderance of which rings true from my experience. Having been through this process on both sides of the table now, I have a few reactions: 1. I heartily disagree with the idea that having a closed deal at all differentiates you as a candidate - especially the suggestion...9
I was the interviewer and not interviewing, but my first...I was the interviewer and not interviewing, but my first job out of college was in REPE and our group was pretty small so they had analysts that had been there for a couple of years interview new hires, and probably for only 15-20 mins. So just remember: interviewing to be an analyst at a real...9
I went on a few interviews in college for jobs I didn't...I went on a few interviews in college for jobs I didn't want at all to practice interviewing and one guy was just a douche bag like some of the above mentioned stories so I decided to screw with him. I think it was the third or fourth person interviewing me in the day (and I thought I was only...9
Brutal. Great read. For those youngsters out...Brutal. Great read. For those youngsters out there: You need to set boundaries and live your own life. You do not live to fulfill the dreams of your parents. Live your own life on your terms. Ultimately, your parents will respect you more for that than doing exactly what they...9
I highly doubt he took this stake without a future...I highly doubt he took this stake without a future transaction lined up. I personally think the end game here is the break-up of Pepsi, with Frito-Lay merging with MDLZ and the beverage business going to AB-Inbev. -Peltz is on the board of MDLZ and has wanted a breakup of Pepsi forever (read...9
...https://drive.google.com/folderview?id=0Bz7kLqiUpnrSYkNuUmpaWG5CMWs&usp=sharing9
Single guy in NYC here. Had a turkey sandwich for...Single guy in NYC here. Had a turkey sandwich for lunch. Cajun style--Harris Teeter made it pretty clear their direct brand was marked down 10% relative to the Boar's Head stuff. Which is all good... Basically I like the cajun turkey because it adds an element of spice to the sandwich. It...9
I love kids with no social worth who think they're...I love kids with no social worth who think they're better than everyone else because they managed to win the genetic lottery and be born into some old-money WASPy family that can't stand each other. You're the wad your mother should've swallowed, kid.8
You're right in that Prime Brokerage isn't discussed all...You're right in that Prime Brokerage isn't discussed all that much on this site, thus I don't even really know too much about it. So could you just briefly go over what you actually do in prime brokerage? How is it similar and different from S&T (if they're even related at all)? Let me give...8
to confirm what others have said, the big guys have...to confirm what others have said, the big guys have already been interviewing and have already been giving out offers The candidates different megafunds target first are overlapping and can/will interview at all the big shops. They will be the top analysts from the top groups on wall street....8
i really hope the 3 guys are not on here.. they were all...i really hope the 3 guys are not on here.. they were all fired8
Pretty much sums it up: Pretty much sums it up: 8
How does Stern compare with Colombia? Stern is in New...How does Stern compare with Colombia? Stern is in New York City and a pretty decent university for finance placement, whereas Colombia is a former hub of the cocaine industry. Ironically, Columbia is a former hub of the cocaine industry too.8
Eddie, I have to say, most of your posts are spot on -...Eddie, I have to say, most of your posts are spot on - but I'm really disappointed to see you advise these young monkeys not to get married for simple concern of money. There is a lot, lot more to life than making a sht ton of money and hoarding it away. I myself am happily married, under 30 ys...8
Interesting to read, surprised given my candidacy I made...Interesting to read, surprised given my candidacy I made it into the number of superdays I did if all this holds true.It's cuz your black. You're a minority, ever heard of affirmative action?Affirmative action my fucking ass. Nice try though.Don't act oblivious. You're the black kid in Stern who...8
I started in corporate FP&A (F100, financial sector)...I started in corporate FP&A (F100, financial sector) about a year ago. In my experience, these jobs have growth prospects, but it takes a very long time to progress. For example, I think typical path might be: Format - (title - min salary, max salary, bonus, average time for top 10% of...8
First, thanks for taking the time to lay out your...First, thanks for taking the time to lay out your opinion. You are definitely owed a reply of similar length. From my other posts it is easy to say that I disagree with most of the below. I am an Objectivist and live my life accordingly. I am still young - much younger than you - but have...8
I'm a generalist and look at most companies in most...I'm a generalist and look at most companies in most industries excluding biotech and financials. That said, I know about six industries really well. The reason that is possible is because there are only a handful of things that really matter for any particular industry (and by extension,...8
I broke into the buyside straight out of UG (with a... I broke into the buyside straight out of UG (with a lot of luck) on the PM/quant side as an analyst, at a good BB AM: The above poster is slightly wrong, as BB FOF is not the only thing BB AM hires for. There is an occasional spot for a buyside ER analyst, credit research, etc. but...8
Uh, wow. 12 SBs and a Certified User tag from one...Uh, wow. 12 SBs and a Certified User tag from one comment. I'm torn on whether to have a Sally Field moment ("You like me, you really like me!") or whether to figure out if that's some sort of WSO record. Thanks guys. It's nice knowing that my rambling posts are appreciated. I've thought...8
Just seeing this thread is actually somewhat humorous. ...Just seeing this thread is actually somewhat humorous. I know people at FTP and have for some time and from what I hear / know they are not only "legit" they are thriving. I just surfed their site and it speaks for itself, doesn't it? All I see is in the last couple of deals, they raised $235...8
From GS: Interviewer: If I told you that the only way...From GS: Interviewer: If I told you that the only way you were going to get this job is if you let me sleep with your girlfriend, would you accept? My response would be: "Is that a risk you're willing to take? I mean, how do you know I'm not into fat chicks?"8
I've hit a lot on the "real reasons" why someone might...I've hit a lot on the "real reasons" why someone might choose MM over Large Cap / Megafunds. Some of these also make for good answers (responsibility), while others make for poor answers (less hours). I'll try to take a different approach here. You're currently at a BB. Try to think of all...8
A pretty common thing is you get a draft pitchbook full...A pretty common thing is you get a draft pitchbook full of comments faxed from your MD (yes, faxed so you can barely fucking read it), and you just re-do the whole thing. They want to change something in the model, reformat some pages, add some bullets, whatever. You do it while your associate...8
Serious answer incoming. You'll probably have a...Serious answer incoming. You'll probably have a morning of presentations, meetings and introductions showing you some of the main people in the office, some of the support staff (read - the people who will do your PowerPoints while you dash home to sleep, treat them well!) and HR...8
This--I can't say is very well founded. Sure I've read...This--I can't say is very well founded. Sure I've read some papers on arguing that a higher income tax on people who pay the taxes (let's not kid ourselves) would reap the benefits of all this trickle down government economics. First off, whether that's true or not, I think Barry doesn't give a...8
When I first started full-time, I would enthusiastically...When I first started full-time, I would enthusiastically respond to every recruiting email I got from undergrads, knowing that I was in their shoes not long ago and wished someone paid some attention to me. As time goes by, my response rate has dropped significantly while the barrage of...8
No problem folks. One thing I forgot to mention -...No problem folks. One thing I forgot to mention - live on your base, bank your bonus, at least for the first 3-5 yrs. After that you can put your saved bonuses into whatever - house, etc. But always try to live one or two rungs below your means. If you're thinking of grad school you'll...8
My hobbies include making powerpoint presentations,...My hobbies include making powerpoint presentations, excel models, buyers logs, and correcting my associates mistakes, so I think I have that front covered.8
Dream girl and it's not even close. I can't believe...Dream girl and it's not even close. I can't believe the kids on here saying dream job. If you think it's your dream job, then you are absolutely delusional. It is dream girl 100% of the time and you can't even entertain the scenario of it being dream job if you have any semblance of...8
i have a lot of family friends in gas station and car...i have a lot of family friends in gas station and car wash business the margins are razor thin for gas station (you make a few cents PER gallon sold). the majority to most of the profit really always comes from the convenience stores inside beacuse of the markup that they charge on drinks,...8
... SirTradesaLot: RustyFork: SirTradesaLot: You just need to accept that life is meaningless and accomplishing a lot of these goals will make zero difference to the universe or your happiness. Also, some of these things are surprising to me that they're your goals. For instance,...8
My day can vary wildly, but this is a pretty typical,...My day can vary wildly, but this is a pretty typical, uneventful day: 6am -- Alarm goes off. 6:30am -- Actually get up and shower/get dressed. 7am -- Leave for the office. I drive every day. 7:30am -- Arrive at the office. Check email/schedule for the day. Read a few blogs/check...8
I would (and do) prefer to be a generalist. If I was...I would (and do) prefer to be a generalist. If I was forced to pick an industry, it would probably be consumer or maybe tech. There is obviously a lot of good that comes with specializing in an industry, namely the contacts you make within the industry, but I want to be able to pick whatever...8
...http://ebookee.org/Investment-Banking-Industry-Primers_2229111.html scroll down to the bottom of first post. You can download from those 2 links for free, but it'll take 30 minutes for each part. I would like some SBs lol.8
Got sort of inspired by this and decided to write down...Got sort of inspired by this and decided to write down my experience in minor pro hockey. Did this for about 1.5 years after college. 8:30am: Wake up, have a quick breakfast (usually consisting toast and orange juice) and get out the door. Pre-game skate usually didn’t start until 10am,...8
you're just having typical first year feelings.. about...you're just having typical first year feelings.. about 2-3 months in is when EVERYBODY start to get tired of their jobs and realize that college was more fun. obviously, it's a little worse when you are working those IBD hours.. but trust me, everyone even those in 9-5 jobs will find something...8
In the three years since I left, I’ve married,... In the three years since I left, I’ve married, spoken in jails and juvenile detention centers about getting sober, taught a writing class to girls in the foster system, and started a nonprofit called Groceryships to help poor families struggling with obesity and food addiction. I am much...8
Your 3 topics on this forum have been "submit your best...Your 3 topics on this forum have been "submit your best i-banking horror stories", "are Wall Street's best days behind us", and "has Silicon Valley replaced Wall Street as the prestigious post-college job". Most of your articles and tweets are critiquing Wall Street or big business in one way or...8
I liked this post when it was originally posted, and I...I liked this post when it was originally posted, and I still like it, but I think it fails to recognize a crucial aspect to any work, which is that we have a choice to enjoy what we do or not. But before going into that... I believe that the work of an auditor, a banker, a consultant really...8
Comparing 200-250k vs. 200-400k is of course a no...Comparing 200-250k vs. 200-400k is of course a no brainer. But comparing 250k vs. 150-400k is not as straightforward, and would require taking beta into consideration. Of course, many in WSO would choose 150-400k just for the excitement and emotion alone. But leaving excitement and emotion...8
Only on WSO do you have to figure out if you can retire...Only on WSO do you have to figure out if you can retire with $20MM.8
@"SSits" don't underestimate the LP pressure. I've...@"SSits" don't underestimate the LP pressure. I've always been in the MM and at megafunds you may have completely different teams dealing with LP's, but in the MM at higher levels the LP pressure is always there even if you're not the person who's in regular contact with them because if you're...8
Interesting thread, thanks for starting it. I think...Interesting thread, thanks for starting it. I think the people who have had the biggest influence in my life so far (when I really think about it) have been my older brother, my father, and one of my brother's friends. My older brother kind of just set a standard- he had perfect grades, a...8
Only be worried if she laughs when you drop your pants.Only be worried if she laughs when you drop your pants.8
deletedelete8
I think they're fully aware of what the hours are but in...I think they're fully aware of what the hours are but in the youthful enthusiasm of their mind's eye they glamorize and romanticize the idea of working 110 hours... taking a black car home at 3am, waking up 4 hours later to a bunch of stressful emails, rushing back into the office, cranking...8
Wrote this for an assignment while still in...Wrote this for an assignment while still in college: While I was abroad last semester, I had the pleasure of spending a week in Paris with several friends. One day we decided to make a trip up to Normandy to see the American cemetery at Omaha Beach, where the majority of Allied forces landed...8
The problem is that if Uber drops fares to 50% of a...The problem is that if Uber drops fares to 50% of a taxi, they have to provide twice as much service as all taxi providers have been offering to get the same revenue. That's assuming they completely run the cabbies out of business and become the only game in town. So just how elastic is the...8
What are you, an idiot? How is this even a question,...What are you, an idiot? How is this even a question, its gotta be a troll. Follow your parents advice if you want to be doing what they're doing. They're probably small business owners (i.e., are professionally illiterate) or dragon-professionals (e.g., college professors or engineers,...8
I was 5 minutes late.I was 5 minutes late.8
Son, I am going to get you laid in spite of yourself. I...Son, I am going to get you laid in spite of yourself. I have been waiting for a way to give back and pay it forward so to speak and I do believe this is that opportunity. FIRST your appearance. If you are out shape, hit the gym. Next get a haircut, clean and tight (preferably one that you...8
didn't read anyone else's responses, but here are my...didn't read anyone else's responses, but here are my thoughts on startups, and this will be harsh, fair warning. 99% fail, 99% of the ones that succeed don't knock it out of the park such that you become independently wealthy like a Brin, Jobs, Bezos, Musk, Zuck, etc. otherwise the world would...8
deletedelete8
As an analyst in one of your highly sought after banks...As an analyst in one of your highly sought after banks (GS/JPM/MS), I can probably venture a guess and say that you failed because youre delusional. Because although you probably didn't tell them you were only applying to them, your cockyness and elitist view came off. To downplay top banks (ie...8
OP, are there any good last minute Xmas rollback...OP, are there any good last minute Xmas rollback specials in your department today?8
love this Jared. curious what @IlliniProgrammer has to...love this Jared. curious what @IlliniProgrammer has to say The difference between thrift and cheap is a pretty fine line, but it comes down to possessions vs people. Order a PBR for $2.50, but leave a $1.50 tip. Buy a house in a really nice school district; give everyone their own...8
just thought I'd drop this in here.... :-)just thought I'd drop this in here.... :-)8
If you look at what previous generations had to go... If you look at what previous generations had to go through to just put food on their table, you might realize what hard work is. Haha, are you talking about the baby boomers? 40 year bull market If you went to any undergrad you basically were guaranteed a good job If you bought a house...8
NYC can blow, sure, but you make it sound like it's some...NYC can blow, sure, but you make it sound like it's some dilapidated town from a dystopian horror novel. As a city, it's perfectly fine for both dating and professional advancement, especially for young, commitment-phobic prestige whores. Banking as an entire industry is experiencing cuts, so...8
What do you guys mean ETFs? You are so fucked.What do you guys mean ETFs? You are so fucked.8
Choice of spouse will impact your retirement much more...Choice of spouse will impact your retirement much more than choice of 401(k), from both a fiscal and quality of life perspective. I'm not saying your should ignore your 401(k). Just that you should plan your dating with more diligence and care than your 401(k).8
I've been meaning to comment on this, as a 30-something...I've been meaning to comment on this, as a 30-something who has spent their career in banking, and with no immediate plans to leave. 1. I have said it before and I will say it again. Your career in investment banking only really begins when you make MD. It may be hard for someone just...8
Personally I like Hillary because she's the most...Personally I like Hillary because she's the most pragmatic person so far and sits in the center. I don't want an ideologue who's going to push stupid shit simply because they come from the more extreme of their parties (Warren or Rubio) or from libertarianism (Paul). The last good and effective...8
Holy shit. As someone older than you (and probably...Holy shit. As someone older than you (and probably the only one on this website), you need to start to learn to let go a little bit. This is not your life to live. It is hers. She is not likely to become an investment banker, not because she is not capable, but because there are so many...8
And this is why you don't get married. And this is why you don't get married. 8
So you work harder than everyone, but everyone else...So you work harder than everyone, but everyone else overstates how much they work, and nobody really gets the 250k+ buyside offers, but you get emails about them often.. but dont worry guys, even HE makes mistakes. 8
Getting into banking is systematic. Before the Internet...Getting into banking is systematic. Before the Internet there was a big knowledge void and you got in by knowing people. Now you can have your resume dialed in, pound out emails from linkedin and interview and model prep from a number of Sources. If you're committed and prepare you can break...8
CFA is the College Finance Accelerated exam, it's used...CFA is the College Finance Accelerated exam, it's used by some (not all) noteworthy high schools to gauge applicant quality and demonstrated interest in finance. Level I is generally taken in fourth/fifth grade (I believe you need to be in your final semester of fourth grade to register), Level...8
No offense, but this guy seems like a real pussy who...No offense, but this guy seems like a real pussy who likes to lay blame elsewhere. His job did not ruin his life, he did. Plenty of people work more than that and their kids don't hate them. 8
One time I met this awesome girl. Smart, pretty,...One time I met this awesome girl. Smart, pretty, absurdly talented, and quite funny. By some odd mess-up of fate, I got a date with her. I planned a lovely picnic at a lake. So romantic, I know. Well, i spent a whole day planning a beautiful meal for the picnic, complete with plastic champagne...8
Transaction Experience: Assisted in the sale of Half...Transaction Experience: Assisted in the sale of Half Baked Incorporated. Helped the client achieve a dank selling price that was 420% above book value.8
JPM (top bucket): 1st yr 80k (155k all in) 2nd yr 90k...JPM (top bucket): 1st yr 80k (155k all in) 2nd yr 90k (175k all in) Qatalyst (not top bucket): 1st yr 80k (175k all in) 2nd yr 100k (205k all in) Rothschild (top bucket): not a spectacular year for Roths, friends over there are talking about jumping since pretty much all T1 BB's are...8
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Do you have to go to a target school to do models and...Do you have to go to a target school to do models and bottles? What is the minimum GPA to do Models & Bottles? How is the culture of front office models different from back office models? What type suit should I wear to models & bottles? How technical are the questions that the models will...7
Do you prefer deals that come from banks or not? If it...Do you prefer deals that come from banks or not? If it comes from a bank, I would assume that the process runs a lot smoother and it takes some of the work off your plate, but if there is no banker advising the target, then there is a good chance that you're not competing with any other buyers,...7
As with most things in life, it all depends on how you...As with most things in life, it all depends on how you value the trade-off between doing something that will really jump-start your career, vs. doing something that you're intrinsically passionate about. Investment banking is an excellent place to start your career when you're not sure what else...7
Of course. I rank banks using a very sophisticated...Of course. I rank banks using a very sophisticated algorithm based on the following: Y = 0.25α + .385μ + 24.5ε + .084θ + ο*α/5.67043 + π^2 + γ + .000560β * λ + .0045ω Where: α is current US M&A league table position for transactions above $545m, below $3.45bn, announced not...7
I think a lot of you guys are missing what I consider to...I think a lot of you guys are missing what I consider to be the most important part of the quote - "Rich enough not to waste time." You guys are all fixated on the number, whether it's $400k or $800k or $10 million. The number isn't what matters, it's the lifestyle that matters. It's units of...7
my friend tricked me into trading a holographic snorlax...my friend tricked me into trading a holographic snorlax for a diglett when i was 8. 7
What jobs in the finance sector would best position you...What jobs in the finance sector would best position you to get the experience needed to start building your own real estate portfolio? (specific firms would also be useful, if any) What would you personally consider to be 1- the best/most respected RE/RE Finance firms and 2 - the best...7
As a former soldier I'll tell you this, the only people...As a former soldier I'll tell you this, the only people vehemently opposed to gays in the military are people not in the service or evangelical groups within the military. And even that 10-15% is mostly just getting behind that message since some civilian preachers like Ted Haggard told them to...7
What are the recommendations for getting into Power...What are the recommendations for getting into Power trading companies? Analyst program if they have one if not either scheduling/real time/desk analyst/settlements/risk/product control Is it best to become a scheduler or something else like a Real Time Trader? either are good starting...7
There is a large amount of pessimism towards PE here,...There is a large amount of pessimism towards PE here, and it's very understandable as all have made great points. However, I would like to suggest that perhaps the feelings being expressed towards PE by those in the industry are not a reflection on the PE industry, itself, but, instead, a...7
Definitely an interesting question. And I can...Definitely an interesting question. And I can definitely agree Midas... I've actually been in bars in a suit after work and been asked "So where do you work?" before being asked my name. Not even "What do you do?"... the superficiality extends to brand name, and you better believe the random...7
Short version: Deutsche Bank: "Ve are lookeenk to...Short version: Deutsche Bank: "Ve are lookeenk to replaze Herr Ackerman as Zee-E-Oh of our globelle bank. Zomeone who can better manage our riskzz after zee cazino culture uf zee lazt few yearz." Anshu Jain: "As head of IBD, I generate 80% of DB's revenues in a sustainable business that I...7
I plan to fuck a 19 year old blonde tomorrow after...I plan to fuck a 19 year old blonde tomorrow after work...say 6pm? I'm doing karaoke with friends on Wednesday, have another social gathering on Thursday, and have a date with a different girl on Friday (even hotter than tomorrow's). This is a typical week (btw I still work 60+ hrs a week,...7
The degree to which many of you lack basic social...The degree to which many of you lack basic social consciousness is astounding. Speculating on the "class" of the person you're going to marry before you've even had a single adult relationship is also fucking retarded. I've dated up and down the spectrum of "classes" (random: for a country...7
I grew up in New York City (actually within the 5...I grew up in New York City (actually within the 5 boroughs, unlike every person in the world who says they are from NYC but is really from strong island or westchester/new jersey. Not to pick on Wonderwoman above, but I'd be willing to bet today's paycheck that by "native new yorker" he/she...7
Update: I ended up falling for the brand name trap...Update: I ended up falling for the brand name trap and taking GS, however luck was in my favor and it turned out to be the right choice. I was very wrong in my initial assessment of the IA Summer Analyst program. Every SA is placed on a team. For those who don't know the GS culture,...7
I have a business relationship with Steve (founder of...I have a business relationship with Steve (founder of FTP) and his team since they've pitched me a couple times. From what I can tell, FTP is most definitely legit and they get a lot of deal flow. The senior guys I've met are all very impressive and can walk the walk. They have a lot of former...7
I've been getting a good number of requests for the TTS...I've been getting a good number of requests for the TTS macro. If anybody else wants it, feel free to PM me. I'll just need an email address to send it to.7
long time reader, first time poster. My background - 2...long time reader, first time poster. My background - 2 years in M&A group at boutique, now 5 years buyside equity research at two different smaller hedge funds. I will try to avoid saying "it depends" and share my experience. 1) Day in the life The time you arrive in the office is dictated...7
Throughout my childhood, I was painfully shy. I lacked...Throughout my childhood, I was painfully shy. I lacked confidence and my upbringing in a strict / suffocating family environment only severely aggravated this issue. I was also poor and didn't have many friends growing up (partially due to my personality and partially due to reasons outside my...7
Knowing about chartering/logistics and/or trade finance...Knowing about chartering/logistics and/or trade finance is a definite bonus for moving onto the trading desk at a pysical firm. If you can't get a summer internship with Trafigure/BP/Glencore (only people I know who offer those), then network your ASS off and try and get something at a place...7
The funny thing is that I just had a counseling session...The funny thing is that I just had a counseling session with one of the WSO mentors last night and I actually brought up the same question. I am a South East Asian and so is the mentor. I have been working close to five years in Finance, from BO to MO and to FO. It is all the same. Based on my...7
Couldn't imagine paying for sex. Every guy pays for...Couldn't imagine paying for sex. Every guy pays for sex. Some just don't know it.7
Printing out things and looking them over is good. ...Printing out things and looking them over is good. However, if the buck stops with you (as is frequently the case once you're out of the analyst banking environment) you need to develop a few more error proofing tools. I've been thinking about how to do this better myself a lot lately. It's...7
Code phrase: I'm quitting my job once I find my man but...Code phrase: I'm quitting my job once I find my man but I won't settle for a lower standard of living. 7
OP you are not going to get in bed with this girl. What...OP you are not going to get in bed with this girl. What is happening now is that you are trying to qualify yourself to her standards, which is a big no no in the dating world. By asking question like this, you are subconsciously admitting that you need her approval. Girls love confident guys and...7
Q: "What's your outlook for US cucumber prices over the...Q: "What's your outlook for US cucumber prices over the course of 2012?" A: .................. A: Well, it seems I am in a pickle. 7
Don't worry OP it's because you're a lesbian, explains...Don't worry OP it's because you're a lesbian, explains why you in banking. 7
no hate, but family income in the region of 150k makes...no hate, but family income in the region of 150k makes you very well off even if it is precisely the range that gets fucked by financial aid. that's more than anyone i knew growing up, so id say you're a bit of a whiny fag. Oh is that what you'd say? Not that I assume you know anything...7
wat a dum questin, nooooooooooooooooo no no NO. u r a...wat a dum questin, nooooooooooooooooo no no NO. u r a invetment banker, ur job is to be most prestigus as possible at all times, and new york ciety is way more prestigus than california. more prestigus = more world power = ilumenati = models bottels do U think bankers in california get...7
I swear if I hadn't met you Brady I would also think you...I swear if I hadn't met you Brady I would also think you were trolling here...you really need to get the B School obsession out of your head. An MBA from a top school will not save your life or automatically make you don juan. I swear, you are like a broken record with this b school shit. If...7
MBAs have really turned into cash cows for...MBAs have really turned into cash cows for schools. If you can graduate HBS as a Baker Scholar, an MBA is probably worth it. But even HBS has only about a 90-95% placement rate. And the new industries (tech, medicine) really aren't big on MBAs. So I would only go for an MBA if an employer...7
I have a coffee pot on a timer on the night stand and...I have a coffee pot on a timer on the night stand and when I smell fresh coffee in the morning I take the pot off and pour it on my face. You will never hop out of bed quicker than 3rd degree burns.7
WSO : the only place where the prestige level of the ivy...WSO : the only place where the prestige level of the ivy league school you went to will ever fucking matter and have threads devoted to it7
Flesh, you are spot on. It's refreshing to hear this...Flesh, you are spot on. It's refreshing to hear this kind of attitude on WSO. I haven't posted on here in a while, because I've become bored with hearing from college kids that are still, albeit unknowingly, wearing their blinders. All they see is "prestige" (I wish this word would die a long...7
If there's anything I hate more, it's parents who...If there's anything I hate more, it's parents who shelter their kids and don't let them experience the world for themselves. I think all children should be encouraged to make their own mistakes, then let them deal with the repercussions and learn from them before high school. I was an...7
I'm in one of those groups mentioned, and I can state...I'm in one of those groups mentioned, and I can state with certainty that most people don't enter with a real mastery of Excel or tremendous knowledge in valuation or modeling. What I noticed immediately about my peers' profiles it that almost everyone can be categorized as one of three...7
Check:...Check: http://www.wallstreetoasis.com/forums/former-ms-ma... The guy posted (this is a data point from just KKR, other PE firms might have slightly different preferences) "Appreciate it, god only knows how much filth is spewed in this forum. I've been a reader for quite some time and can't...7
You're 21, I'm almost 30, listen up. Take the job, crush...You're 21, I'm almost 30, listen up. Take the job, crush it for two years, jump to a hedge fund or PE, maybe do B-school or another masters or law school and have a great time. Realize that your first analyst job is just the starting point and there's absolutely nothing stopping you from going...7
For this particular job I sent my resume and cover...For this particular job I sent my resume and cover letter to their [email protected] email address when I noticed they posted an analyst position and was lucky enough to hear back from them. In general though I networked and cold-called my ass off for quite a while. I think I might...7
No, luckily I haven't had any work related dreams so...No, luckily I haven't had any work related dreams so far. But, I guess I should note that not only do I bring my work home literally (as in I actually do work at home after I leave the office), but I also bring it home figuratively. There is a great deal of stress that comes with putting not...7
I guess my answer would be both. Like I said in my...I guess my answer would be both. Like I said in my comment above yours, I I'm often putting large sums of money behind an idea and do not take that responsibility lightly. Aside from the absolute dollar amount of the investment I'm also putting my professional reputation and livelihood on the...7
I've always been told that the benefits of...I've always been told that the benefits of diversification go to about zero once you have about thirty stocks in your portfolio. That being said, I currently have five in my PA. My problem with the belief that a portfolio is optimized at an arbitrary number is that inevitably you'll end up...7
An Interview from the Founder of ValueAct Jeff Ubben...An Interview from the Founder of ValueAct Jeff Ubben from 2010. They've been absolutely killing it these last few years. These guys are just about as good as it gets on the Street. Listen and learn: 7
Part Two of the Jeff Ubben Interview: Part Two of the Jeff Ubben Interview: 7
Mike Price at the London Value Investors Conference: Mike Price at the London Value Investors Conference: 7
Well, my official thought is that it's best for you to...Well, my official thought is that it's best for you to become informed to all points of view concerning EMH and form your own conclusion. But, since you asked, I'll give you my $ .02. I do not believe in EMH and am yet to meet someone in active management that does, although I'm sure...7
There have been a few continuing questions about the...There have been a few continuing questions about the books I listed so I wanted to put together a list of the books in a logical – to me at least -- reading order. I’d also like to invite everyone to list books that they’ve read and would recommend that I did not list in the original post...7
It's not that most people *want* to do consulting or...It's not that most people *want* to do consulting or banking -- they tend to be the default choice for practical reasons. In other words, they're not necessarily dream jobs, but jobs that many people take simply because there's always tons of jobs available relative to other industries and for...7
duffmt6: Marcus_Halberstram: As hilarious as I... duffmt6: Marcus_Halberstram: As hilarious as I find these e-mails; I think there are some serious issues with these things getting passed around. Everyone done something socially unaware and sophomoric in their day. Yes, its stupid and devoid of tact, but the eventual consequences of...7
Pink shirt: "The fuck...this isn't decaf"Pink shirt: "The fuck...this isn't decaf"7
There really hasn't been multi-billion dollar tech...There really hasn't been multi-billion dollar tech M&As lately, so the data points from IBM/MSFT/GOOG have to stick. Not sure why you'd say Qatalyst owns it. As far as I know, they seem to get stuck on a lot of smaller sell-sides, but honestly, who isn't. Whatever the case may be, I hands...7
from low-ish GPA to comments about wanting to hang out...from low-ish GPA to comments about wanting to hang out and leave early etc - the op doesn't sound like much of an overachiever (by any stretch). While i laud work life balance and doing what you love, i don't think prospectives should settle for mediocrity and apathy. Find what you love and...7
I'm reminded of one of my favorite stories about Peter...I'm reminded of one of my favorite stories about Peter Thiel (entrepreneur, VC, and hedge fund manager), when he was just graduating Stanford Law: By graduation, students at Stanford Law and other elite law schools have been racking up credentials and awards for well over a dozen years. The...7
The cruel irony here is that despite the fact that...The cruel irony here is that despite the fact that DCDepository lives and votes in the U.S, no one in this discussion respects his political opinions.7
NYC just ranked #1 by Business Insider's "25 Best Places...NYC just ranked #1 by Business Insider's "25 Best Places to Roll Dolo" so I don't know wtf you're talking about.7
The lesson is to stay on the ground floor.The lesson is to stay on the ground floor.7
If I were in your situation I would take a long vacation...If I were in your situation I would take a long vacation and just unplug from everything. I'm talking like a month or longer just sitting on a beach or taking a train across Europe, doesn't really matter. I've been in similar situations before when it feels like no matter what you / how hard...7
I see someone is enjoying busy season.I see someone is enjoying busy season.7
Money really is everything to you fucking people. Money really is everything to you fucking people. 7
I wish @DickFuld would sign off on his posts like thatI...I wish @DickFuld would sign off on his posts like thatI would, but I'm not a pretentious douche. So I won't. 7
This has little to do with this post really, but I feel...This has little to do with this post really, but I feel like trying to put this into words somewhere... The reason I hate most people in finance is very simple: they're usually very smart, but only in the context of what's generally used to measure intelligence, which leads to very few of...7
Ugh. This is the worst audience for this article. Too...Ugh. This is the worst audience for this article. Too many kids on here that remind me of college - taking business entrepreneur classes and romanticizing being your own boss, doing things "your way" etc. The fact of the matter is that, with all due respect, OP was simply trying to stick it...7
trash car, trash watch, trash ring, trash heli, trash...trash car, trash watch, trash ring, trash heli, trash vid, trash wife7
Pokemon Master, I pretended my dog was a Growlithe and...Pokemon Master, I pretended my dog was a Growlithe and taught him a few commands. I actually managed to teach him growl, tackle and bite. I would go in my backyard and imagine all the animals as pidgeys or weedles and send my dog to chase after them. Man I miss my dog. 7
In 100 years, using the average long term inflation rate...In 100 years, using the average long term inflation rate of 3.2%, $1 trillion would have the equivalent purchasing power of $42 billion today. Bloomberg lists 8 people who have greater than $42 B net worth so I'm a little surprised you think this is far-fetched.7
@Hamburglar: I went to a semi target school on the east...@Hamburglar: I went to a semi target school on the east coast and had no idea what I wanted to do with my life and I did no campus recruiting. I did a few internships during school (including ones at a boutique IB and PE firms in Boston) but would have been happy bartending on a Caribbean...7
I have a pretty diverse friend group, and as a result I...I have a pretty diverse friend group, and as a result I have had the opportunity to spend time at a variety of different academic institutions, going to parties, lectures, talks, etc. In my experience, there are three types of schools. At tier 3/4 schools (Podunk State University, For-Profit...7
Did some searching and found them. They were still on...Did some searching and found them. They were still on their site, but you could only access them if you have the direct link. It's a dick move, but I'm not even mad. Wiley & Co just doing the hustle....7
But if you ask the average student at UC Berkeley or...But if you ask the average student at UC Berkeley or UCLA or even CMU whether they go to a prestigious school, most will say no. If you ask the average engineer at MIT if he goes to a prestigious school, the answer will be "No, fuck you. Harvard is that way, asshole." (At Stanford people will...7
The "if I give you an offer, would you accept" is highly...The "if I give you an offer, would you accept" is highly unethical, especially during MBA recruiting. The bank should be blacklisted by the school, not the other way around. Whether its off-cycle or not, this is not appropriate behavior. 7
I actually feel like life costs less than what most...I actually feel like life costs less than what most people think, or at least among high paid professionals, they make a lot but also have so much more money related anxiety than ppl who make way less. Even my MD cuts coupons and I'm pretty sure she takes home more than $300k.. I'm a 1st gen...7
I married older so you can take this for what it's...I married older so you can take this for what it's worth. Find someone whose value system is like yours. With common underlying values you are more likely to have fewer major conflicts. If you like being around the person in the quiets and most other circumstances that are not related to...7
I think that what might be lost on some of the younger...I think that what might be lost on some of the younger guys on this thread is just this: it's far, far easier than you might imagine to spend money. It all adds up, and it adds up rather quickly. For whatever reason, this thread keeps referring to the spending habits of the $5MM per annum...7
1. I worked in the SF office of a BB (tech group) 2....1. I worked in the SF office of a BB (tech group) 2. Not 100% sure what this question means, so I'll break it down into two questions. Feel free to follow up if I've misinterpreted: A. Best way to network internally at the bank when you first start: DO GOOD WORK. PERIOD. There are lots of...7
Buy her a MacBook Pro. Buy her a MacBook Pro. 7
The main problem for me is that my parents paid 100%... The main problem for me is that my parents paid 100% of my undergraduate tuition ($200k+) . Sounds like a real problem you got there. 7
Ok, just to set the record straight here as I am sure...Ok, just to set the record straight here as I am sure some of the responders above do not work in BB IBD and are not active in recruiting both for their particular groups as well as for their particular schools. 1. IB is expanding off its "bottom-out" following the crisis; However, this...7
Damn, too bad he didn't give you a keychain.Damn, too bad he didn't give you a keychain.7
Dude has an MBA and is making $15 / hour at a retail...Dude has an MBA and is making $15 / hour at a retail branch. Fucking idiot. The CEO of WF is responsible for $1 trillion and making billion dollar decisions, while this jerk off opens a couple checking accounts a day. Typical lib not realizing his compensation is directly related to the value...7
They are definitely a busy shop, but their culture and...They are definitely a busy shop, but their culture and approach to new business/deals is a bit different than LAZ/EVR/GHL/PWP/CV. In my opinion, it basically comes down to their DLJ heritage vs. the other boutiques which are largely more traditional/conservative (i.e. former MS/GS bankers) 1)...7
I may be a little young for the average audience member...I may be a little young for the average audience member here, but this may be a tough story to beat... The setup: I was a rising sophomore at a small state school (under top 400 in the USA). I couldn't get a job anywhere. Forget finance and accounting internships - burger stands and clothing...7
Or just snort cocaine, but to each his own. Coke will...Or just snort cocaine, but to each his own. Coke will get you through one night of no sleep but you really need meth to get >3 days. Of course in 12 months there's a good chance you'll have lost 80 lbs and all of your teeth, but as long as it gets you a prestigious buy side job it's worth it. 7
Athlete, very attractive,/chill, but she sleeps around a...Athlete, very attractive,/chill, but she sleeps around a lot.'but' is the wrong word. 'and' is much more appropriate. 7
My advice? Stop trying to cut corners on your education....My advice? Stop trying to cut corners on your education. No one gives a fuck if you're good at high school math, even if it's advanced math. You're not a prodigy, get over yourself. Your career goals are ostensibly retarded. You obviously have no sense of how VC works, otherwise you would be...7
I want to learn how to be at the helm of a secret...I want to learn how to be at the helm of a secret organization that operates a series of fronts that takes over public companies against the will of executive management and the board of directors. I'm willing to train for 10 years or longer. Where does one learn how to do this? Is there a...7
It's a reference to the East Asian Buddhist concept of...It's a reference to the East Asian Buddhist concept of the monkey mind (心猿). However, there's a lot of implicit and referential knowledge behind the imagery. I'll lead you through the logic. The reference to 心猿 is a reference to the longer form Chinese chengyu/idiom ...7
I worked at GS in IBD for three years after business...I worked at GS in IBD for three years after business school and registered for this site just to respond to you. I went through what you are going through and really encourage you to take what you're experiencing seriously. 100 hour weeks are bad for your physical and mental health. Some ppl can...7
If the VP says anything just be like "fuck you" and kick...If the VP says anything just be like "fuck you" and kick him in the face with your energy legs7
I agree with you entirely on this. I would love to hear...I agree with you entirely on this. I would love to hear your view on how SATC destroyed NYC culture. To give you a better understanding, SATC is to girls what American Psycho is to you guys. West Village brownstone : American Gardens Building Brunch at Mercer Kitchen : Dinner at...7
DCDepository: TNA: Philly has very shitty... DCDepository: TNA: Philly has very shitty parts, but if you make any money you literally never deal with them. You must have lived in the northeast or something. Lived at Logan Circle in a corporate apartment my company paid for. Literally the same exact situation as you and I...7
People on WSO are way too rigid when they look at...People on WSO are way too rigid when they look at careers, especially when looking at experiened roles. No, there is no period after a year of being an associate where dozens of headhunters contact you about buy-side openings. But there are constantly new jobs opening up whether it's...7
Oh, the good old India analyst program. I came from the...Oh, the good old India analyst program. I came from the same era of WSO.com (the poster/mod). We actually had India analysts. We were busy enough that my BB hired a bunch of Finance MS/MBAs in India from top schools to provide us with support. The India analysts were from the top of their...7
My details (so you don't think I'm a 22 yr old giving...My details (so you don't think I'm a 22 yr old giving you marital advice): ~40, been married for 10 years, been with her for 15 and I've known her since we were freshmen in college, couple of kids, house in the burbs, the whole shitshow stereotype. Very happily married, she's a great woman. I've...7
General tip - make sure you don't have all your life...General tip - make sure you don't have all your life benchmarks in one basket. For example, if 90% of your life aspirations/benchmarks of self-worth are (a) getting a job in IB and (b) living bottles and models, then you're putting yourself in a very risky position if you fail to meet those...7
If you mean $10-30MM payouts from starting a company and...If you mean $10-30MM payouts from starting a company and selling it, very, very few people will get to that point no matter how much work they put into it. Especially at a young age. In the startup/VC/tech world, how many seed level companies actually succeed to any degree? Very few. Very few...7
A year or so ago I had an interview with a sector...A year or so ago I had an interview with a sector specific micro boutique in the City (these are very different to US advisory boutiques). Let's just say that the 80s / 90s finance scene was alive and well at this place. I'm going to be so easily identified as I told everyone who would listen...7
Nothing compares to what I had to deal with the 6 years...Nothing compares to what I had to deal with the 6 years I worked in luxury hospitality. I've had knives pulled on me, been propositioned by men and women of all ages and in all stages of dress (and sobriety), had a minibar thrown at me, had to clean up every sort of bodily fluid, called the...7
What would she charge for 3 minutes? That's really all I...What would she charge for 3 minutes? That's really all I need, including introductions and undressing. 7
"While you guys are at Dartmouth. I'll be at state where..."While you guys are at Dartmouth. I'll be at state where the girls are half as smart and twice as likely to fellash me." -Seth, Superbad 2007 7
There is a fantastic post on linkedin from a senior guy...There is a fantastic post on linkedin from a senior guy a Bain, which I highly recommend reading in full. For the full version see type in "The consolidated version: Jonathan's 10 rules for a sustainable consulting career" in Google (I can't paste links as a new user) One of the best...7
Early in your career, it is a very big deal. Honestly,...Early in your career, it is a very big deal. Honestly, it can help set the stage for the rest of your life. I spent just over 5 years in NYC, first in S&T and then in IB at two BBs. I had an incredible experience...good groups, great friends, a lot of fun, but I worked a lot. I managed the...7
For $18MM, I would have let him buttfuck me 4 times. YOLOFor $18MM, I would have let him buttfuck me 4 times. YOLO7
Where the fuck do you work? An auto-parts store?Where the fuck do you work? An auto-parts store?7
Creepy. Things I do in the evenings: #1 Usually...Creepy. Things I do in the evenings: #1 Usually work #2 If work allows, some gym time #3 If no work, go home to relax, to an event with my wife or out to a bar or dinner with friends Having to go to dinner with some creepy guy who wants a job (or wants to slip me a mickey and have his...7
Disclaimer: I put in my two years time at a BB, so...Disclaimer: I put in my two years time at a BB, so everything I say is from that lens Obviously a lot of what an analyst does day to day in IBD isn't incredibly difficult. However, coming out of a two year program you'll have good modeling knowledge, outstanding raw speed in excel (which is...7
i live a version of this, it's become the new normal....i live a version of this, it's become the new normal. There's never a boring day, but there definitely are downsides you may not realize until you're past the "honeymoon" stage. That said, the benefits for me definitely outweigh the negatives. Some background info: I'm based in S.America...7
I was physically born in Harvard College (just to be in...I was physically born in Harvard College (just to be in a target birthplace) and had my name changed to Ludovic Rothschild to improve my chances to get into the target pre-kindergarten program at Andover. My plan is to be #1 at everything at Andover and then do Harvard College -> Blackstone R&R...7
Listen here pipsqueak, you're already behind the 8-ball,...Listen here pipsqueak, you're already behind the 8-ball, which you should have already snorted by now. Also, side note, don't smoke pot in middle school, grow up and do cocaine like a real banker. Listen, at this stage of the game, you're late. You're extinct, you're in back office ops at...7
First off OP, sorry to hear that. Unfortunately...First off OP, sorry to hear that. Unfortunately rejection from a job is one of the hardest to swallow because it feels too personal, like "I'm not good enough, someone was better (even though I'm obviously awesome), or I suck." Almost all the time it's not those, but it still sucks. I prescribe...7
I saw this on FB also. Although I doubt it's real, this...I saw this on FB also. Although I doubt it's real, this guy just needs to grow a sack and get over his mid-life crisis. Plenty of people work a lot, have a wife and kids and still find time for all of them. I know personally. I'd like to see my kids more but que sera. What this guy really...7
graduated little over three yrs ago to be exact. i...graduated little over three yrs ago to be exact. i shopped for bargains at tj maxx and macys then and i still do now. is that a problem? after graduating (ivy), i was fortunate enough to spend the first two yrs out of college doing international relations work for the MENA region and Russia. ...7
I'm just paging through a recent book of college...I'm just paging through a recent book of college seniors: "I have a real passion for Finance." Uh, really? I didn't think finance was actually passion-worthy. And what's with the Capital Letters? Are we in the seventeenth century? "I believe that the atmosphere at will help nurture my...6
Hey Jim, thanks a lot for the insight. I might be...Hey Jim, thanks a lot for the insight. I might be missing something here, but I do not see anything particularly negative about latering to a BB As you suggested the downsides are: 1. start over as a 1st yr analyst. Losing a year is def bad, considering you will be a bitch for an extra...6
Over the course of my two years, I only pulled...Over the course of my two years, I only pulled back-to-back all-nighters twice, and I worked harder than probably any analyst in my class. I typically worked 9am to 2am when I was busy, with a random all-nighter thrown in every week or so to meet a deadline. On weekends you can typically get a...6
As long as there are successful people, there will be...As long as there are successful people, there will be fat, bitter and mediocre people resenting them for being everything they're not. They at some point in their lives come to the same realization Henry Hill came to at the end of Goodfellas, which was "I'm an average nobody. I get to live the...6
HiB - not to be a douche here but if they wanted to be...HiB - not to be a douche here but if they wanted to be on the outperformance of C over BAC, when they expect both stocks to go down, why would they bother buying C? If they think a stock will go down, they will short it. Plain and simple. Yes, it is indeed sort of a hedge. This is just a...6
Aceman, I still think we disagree on a number of points....Aceman, I still think we disagree on a number of points. I'll try to hit them one by one.Now, whether or not you agree, based on what i know (talking to and asking about AUM to countless PE professional, MDs, partners at top firms, taking advanced PE courses taught by MDs which discuss this...6
@MBAApply - Every joke/parody/sarcasm has some truth to...@MBAApply - Every joke/parody/sarcasm has some truth to it. As self-righteous, oblivious and borderline ignorant that writer makes Bankers look , there is alot of truth to what he says. If Alice in Wonderland (Obama) brings down Wall Street, he's hurting Main Street more than he is hurting any...6
As someone who recently graduated from a similarly...As someone who recently graduated from a similarly ranked bschool (closer to 12 than 5 though) with an MBB full time offer in hand let me offer my advice: 1. Retake your GMAT. Because I was a summer intern at my firm, I was involved with my firms recruiting team at my school. When...6
They can't support too much leverage. Any growth needs...They can't support too much leverage. Any growth needs to be supported by significant capex in new stores, local advertising spend etc. Growth in comparable stores that are over 2 years old is probably very limited and without extreme promotional spend, there won't be the type of growth...6
In these sorts of situations, I like to err on the side...In these sorts of situations, I like to err on the side of caution, and assume the party is for nudist, alcoholic swingers (and their next-of-kin, of course). Start growing a 1970s porn-stache, and come to the party shitfaced and with an 8-ball of coke. The first person to speak with you is...6
warmartinu, I will answer your question, but know...warmartinu, I will answer your question, but know this: just because you "googled it" or "read tens of websites" , doesn't mean you have exhausted your research options. Go to the goddam library and read a fucking book - hopefully one that's more than a paragraph in length. You...6
I have said it on here once, and I will say it again....I have said it on here once, and I will say it again. I was happiest in life when I was 25, living with roommates (3 girls my age actually), drinking $2 bud lights, and generally had no responsibilities other than paying rent. I was on the prop side, my job paid decent though nothing...6
What is the compensation structure/salary like for 1st...What is the compensation structure/salary like for 1st year PE Associates at mega funds particularly at KKR. There seems to be more transparency for IBD/S&T but not so much for PE? Additionally, did you have to do a case study or take a modeling test for your interview with KKR? Basically...6
Anthony, While he didn't insult everyone fro Penn...Anthony, While he didn't insult everyone fro Penn State, he certainly did insult me without actively giving me a "Fuck You." Having already admitted that I am one of many Penn State graduates working on the street, his belief that we are a bunch of backwater hicks with no understanding of...6
I agree, major shit goes down in first class. One...I agree, major shit goes down in first class. One time, my friend flew first class from Paris to Los Angeles and the flight was filled with famous/important people: Leonardo Dicaprio, the chick from "Juno," the girly-man from "(500) Days of Summer," some heir to a family fortune, the owner of...6
stripper, babt carrot, jp morgan exp account, 4 tradersstripper, babt carrot, jp morgan exp account, 4 traders6
I disagree. You have to understand what they're...I disagree. You have to understand what they're trying to determine with this question. And my view is they're trying to determine if you understand private equity investing, how/why it works and how to analyze an investment. While knowing the industry is important in making an investment...6
Alex, I dig what you're trying to say here, but a few...Alex, I dig what you're trying to say here, but a few points just to help elaborate on the discussion a bit (I'll take it piece by piece because these posts are getting long): Yes, this is true. I mean all of us work(ed) in PE for a reason. Still, doesn't mean you can't set your sights...6
If you don't see the hypocrisy of the right wing right...If you don't see the hypocrisy of the right wing right now, you are truly blind. Really ,because I think you are the one that is blind. The fact that the teachers are public employees and Wall Street is a private company makes all the difference in the world and don't give me that crap...6
I'll post the list if this comment gets 5 Silver Bananas.I'll post the list if this comment gets 5 Silver Bananas.6
Full disclosure, I'm biased to the HF path, but have...Full disclosure, I'm biased to the HF path, but have friends at top PE shops. First things first, PE and HF are two fundamentally different career paths. Yes, they're both buyside gigs and both pay extremely well. However, it's the differences you'll have to pay attention to. 1. I would say...6
what are the exit opps from BB? Do you now work at Saks?what are the exit opps from BB? Do you now work at Saks?6
I'm siding with Eddie on this one. Superb point on skin...I'm siding with Eddie on this one. Superb point on skin in the game and our armed services. All the ideological stuff we hear about taxes being unfair, blablabla... happiness is based on relative wealth, not absolute. Who cares if you're paying higher taxes, you're making more money than the guy...6
Think about it intuitively, what is EV? EV is the price...Think about it intuitively, what is EV? EV is the price you have to pay to pay off every stakeholder (i.e. equity and debt holders). Let's say you have company A with 1 $ in equity, 10$ in outstanding loans and 5$ in cash. So, you buy the company for 11$ (1+11) and have 5$ of cash left which...6
Thought a day-in-the-life would be helpful. As...Thought a day-in-the-life would be helpful. As previously mentioned, I spend a lot of time out of the office, but a standary office day would be as follows (this is based on last friday). 8.00am -8.30am Arrive in the office, read emails that came in overnight from Asia / US, try and...6
i tried i tried6
Do your best to leave on good terms, but if that can't...Do your best to leave on good terms, but if that can't be done, I seem to remember an old saying that is going to work wonders at driving people who hate you crazy: If your enemy is hungry, give him food to eat; if he is thirsty, give him water to drink. In doing this, you will heap...6
A boxster is a hairdressers car or MAYBE something you...A boxster is a hairdressers car or MAYBE something you buy for your girlfriend - GSElevator 6
You have to balance out your life... not only will it...You have to balance out your life... not only will it help you become more successful, but will also give you more fulfilment. Areas to focus on: - Family: This is key. Family first. Sort out any issues you have with relatives and make sure you keep in touch & visit on the holidays. -...6
Africa isn't fixable. Rome was more advanced 2000 years...Africa isn't fixable. Rome was more advanced 2000 years ago than the average African village today. They haven't closed the gap in 2000 years. If you can't close it in 100 generations it can't be closed.6
I wanted money. I wanted respect. I wanted to be a... I wanted money. I wanted respect. I wanted to be a somebody in the eyes of myself and others. You still do. This is why you're 'sharing' your story here. You want to read all of the 'good for you' replies and feel special. Now you've switched your focus from money to fame/attention....6
Congratulations! Very glad you shared your story. ...Congratulations! Very glad you shared your story. Quite inspiring. There are a million paths to happiness in life and very few of them require a massive bank account.6
Virginia Tech, I'm not sure what your problem is. I'm a...Virginia Tech, I'm not sure what your problem is. I'm a guy who lives and breathes the markets, couldn't imagine doing anything else, but still would put the creation of culture as being much more important than finance. Even if that wasn't true, the ability of one man to have an impact is so...6
I am thinking about getting out,...I am thinking about getting out, too. http://online.wsj.com/article/SB10001424052702304811304577366332400453796.html?mod=igoogle_wsj_gadgv1 If I work in finance at Exelon/ Commonwealth Edison, I'll be able to come home, flick the light switch, the lights turn on, and I can smile about what...6
Never had this feeling. Don't let other people convince...Never had this feeling. Don't let other people convince you that you should be "doing more with your life." If you like what you're doing or think it's what makes the most sense for you then it's what you've decided is right at the moment. Everyone my age who I meet for the first time that...6
Don't feel the need to write everything you did down....Don't feel the need to write everything you did down. Write your cv like you are designing an advertisement, what's the one or two details about you that the firms absolutely needs to know? Spend most of the page detailing those sections, shortening less import sections. Formatting isn't...6
SA recruiting -- you could say that interviewers won't...SA recruiting -- you could say that interviewers won't expect as much because you're younger and because it's just a 10 week deal and if they don't like you, they can find someone else to take your spot. FT recruiting tends to be more serious and has a lot fewer spots. Disclaimer: As mentioned...6
What exactly do you do on the job? Big picture? I am...What exactly do you do on the job? Big picture? I am tasked with finding compelling longs and shorts (primarily equities, but can use credit, derivatives, etc--whatever is best for the situation) and then try to convince senior analysts or portfolio managers to put on positions. In more...6
1a. ER is front office. It is a client facing role. Any...1a. ER is front office. It is a client facing role. Any other suggestion is ludicrous. ER analysts don't simply sit behind a computer and type all day. They talk to C-level execs and portfolio managers for the largest asset managers (i.e. mutual funds, hedge funds) in the world. I'm not sure...6
First of all: "fitnessmodel" = douchiest tag...First of all: "fitnessmodel" = douchiest tag ever. Secondly: don't you have some lame blog you can post tripe like this on? Finally, to address the "substance" of your post: not tipping at the end of the meal makes you what economists would call a freerider. The waiter probably gets...6
Compliance: (Personal experience) Hours -...Compliance: (Personal experience) Hours - 8-5 Lifestyle - fair work/life balance -- personally, I had no life while I worked in compliance, because all I was focused on was first in, last out...finish month end at the highest of my analyst class and kick ass. I ended up getting promoted within...6
That's an excellent question, and one I gave a lot of...That's an excellent question, and one I gave a lot of thought to last night. Wall Street has always had boom times and then doldrums, so in that sense it's mostly normal. For example, the 1980 threw off a lot of dough because of the rise of junk bond and LBOs. There was lots of business and...6
Congratulations on the job. Here are the items I would...Congratulations on the job. Here are the items I would carefully diligence, particularly in today's market: 1. Capital Availability - How much dry powder do they have to make acquisitions? Where are they in the fundraising cycle? A lot of the pension funds and endowments that represent the...6
Here's the answer. VC terminology sounds more...Here's the answer. VC terminology sounds more complicated that it really is. Preferred shares are senior to common and usually have an annual dividend (although most times the dividend just accrues and gets paid on exit). In an exit scenario preferred shares receive their initial investment +...6
Here's how I do it: Interviewer: "Tell me a little...Here's how I do it: Interviewer: "Tell me a little about yourself." Me: "In college, I majored in Economics, the 'science' of making choices in a constrained environment to help me figure out what motivates people. I minored in Philosophy to hone my art of bullshitting. Combining these...6
Hello Monkeys, I am sure some of you are curious as...Hello Monkeys, I am sure some of you are curious as to my recent developments, and there have been a few. So let's begin: When I originally posted my question, I was very new to the concept of walking in, as I'm sure some of you can relate to. I received great feedback and advice which not...6
Good post. I also think management and managerial...Good post. I also think management and managerial strategy is a great point to touch on, especially in context of your industry. If you can talk about why a company's executive team (make sure to drop names) has the perfect vision for the company, it can be a key point of inflection for your...6
Once you understand the big picture and can make...Once you understand the big picture and can make reasonable assumptions, doing an LBO in your head becomes incredibly easy. Essentially, just estimate cash flow generated over the course of five years (generally EBITDA less debt/interest payments less taxes), use that to calculate debt at exit....6
Very basic guide, but should help you get...Very basic guide, but should help you get started: Cash and Cash Equivalents Flows in directly from Cash Flow Statement Prepaid Expenses % Opex or % COGS Accounts Receivable Simple: % of revenue More Advanced: (AR/Revenue) * Days in period Inventory Simple: % COGS More...6
This kind of perspective makes me laugh and is fairly...This kind of perspective makes me laugh and is fairly reflective of how prestige-driven and myopic students/junior bankers tend to be. There are two main reasons why there is a bid for HF jobs from ex-PE guys. First is that PE tends to be a 2 year gig, after which you go to b-school, and...6
with such a stellar GPA at a prestigious university, I...with such a stellar GPA at a prestigious university, I probably wouldn't even apply - they should just reach out to you6
The theoretical basis is that QE will lower interest...The theoretical basis is that QE will lower interest rates on government securities, which forces investors to move out the risk curve. QE occurs because short-term interest rates are already at the zero bound and the Fed must move out the curve to have something to work with. To illustrate it...6
Thanks guys, this board has been infinitely more helpful...Thanks guys, this board has been infinitely more helpful / fun / insightful than I would have expected and I owe everyone on it a thank you for that. I came here initially as a lurker in college, came back to consider an internship program and thought it would only be like a 2 week thing... but...6
YOU TELL THAT BITCHYOU TELL THAT BITCH6
Your first midyear review will likely be pretty... Your first midyear review will likely be pretty pointless, unless you've done something really bad, but keep the year-end review in mind and realize people's memories are much shorter than you think, so a good 3 months leading into the review can make up for quite a bit of mediocre...6
got finals for db, then didn't get the offer. Thanks for...got finals for db, then didn't get the offer. Thanks for the advice, good to hear of people struggling out there. As long as you're being honest w/ yourself about where you are (solid technicals, normal sounding, etc.), the best advice I think I can give is to continue 'playing hands' until...6
For integrated teams: Hours not only vary per group but...For integrated teams: Hours not only vary per group but per the workload of the bankers you support. For instance, in my group, the younger analysts support the more senior bankers, so they have the heaviest workload. When performance numbers come out on the beginning of each quarter, I can work...6
Hey Valuestrats920, I’ve worked at/within PJM for 6...Hey Valuestrats920, I’ve worked at/within PJM for 6 years. There are three main products that are traded in the PJM Market (excluding other exchanges such as ICE/NYMEX). They are virtual bids (increment offers (INC)/decrement bids (DEC)), Financial Transmission Rights, and...6
Well, you're probably the first person to ever pick...Well, you're probably the first person to ever pick Barclays over Laz, so at least your mother isn't wrong when she says you're a unique, special little flower. Really it depends what you want to do. If you want to do M&A advisory/corporate finance work, yeah that was fucking retarded. I...6
Thank me...Thank me later. http://icg.citi.com/transactionservices/home/demo/tutorials29/HedgeFundStartUpGuide_Jan2012/ Or give me a silver banana :-)6
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I had the opportunity to chose between USC and MIT, and...I had the opportunity to chose between USC and MIT, and I chose USC. It was a hard decision, especially since I am an East Coast guy. The deciding factors were the faculty and the program itself. You get three full semesters of classes at SC which concludes with a comp exam, compared to the...6
@Asia_i_banker kudos to you for your drive to get your...@Asia_i_banker kudos to you for your drive to get your idea started, and the creative thinking in controlling the pricing database via Excel. But having been in the startup space for a few years after banking, I can point out that there are better approaches to test your idea with FAR less...6
I wanted to be a billionaire growing up too from owning...I wanted to be a billionaire growing up too from owning a pizza shop, being a secret agent ala James Bond, playing in the NFL, and being an action packed paleontologist like in Jurassic Park. I also rocked out with Pokemon in my spare time. Then I turned 8 or something and grew up. I had...6
Are you sure it doesn't make any sense to leave banking...Are you sure it doesn't make any sense to leave banking for business school and then come right back to banking... Why isn't that a thing people typically want to do? AsianMonky, I really want to help you out here, and because I care I want to try to explain this more fully than I did above....6
I'd rather spend my time reading something that will get...I'd rather spend my time reading something that will get me paid. We get it: he does blow and bangs hookers. cool You are the reason finance is no longer fun.6
It depends on a lot of factors, I've seen ~1bn family...It depends on a lot of factors, I've seen ~1bn family office types that pay ~$300k because its an extremely small team, and I've also seen small PE shops that pay absolute dog shit in the range of 60k all in. In general though, the megafunds will all be standard in the 240k-280k range, with...6
the comments here are sadder then the story itself. the...the comments here are sadder then the story itself. the chances of getting killed by a terrorist are similar to winning the lottery and 90% of the posters here are happy to give up civil liberties for a slight reduction of these already miniscule odds. America is not a free country and its...6
I'm going to disagree with your cold e-mailing format. I...I'm going to disagree with your cold e-mailing format. I go to a Non-Target as well, and I've spent my fair share of time learning what does and doesn't work with networking so far. The problem with your format is two fold: 1) You reveal way too much information about yourself. If you...6
1. Surgeons - go through 80 hour residency and all that...1. Surgeons - go through 80 hour residency and all that BS but have ultimate job security and a lot less hours after that residency is finished, or even better if they start their own practice. Bankers maintain 60 hour weeks even at a very senior level and have relatively little job...6
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As a fair warning, I just got home from a networking...As a fair warning, I just got home from a networking event - mostly college kids, like myself - and I don't know if I should be extremely pleased or extremely irritated. I'm currently both. Approx. 60% of the people I talked to were horribly, horribly awkward. Unable to carry on a conversation...6
Honesty I skimmed your post, but I take it you're still...Honesty I skimmed your post, but I take it you're still in college? Just from the general tone, I gather you may come off as that prick who landed an iffy internship position at an established firm, and will do anything it takes to steer a conversation towards you saying, "Ya, I interned at...6
As for your comments: Yeah, I already said that i went...As for your comments: Yeah, I already said that i went from Summer Analyst to Associate. See, that's the problem, you didn't. And since the beginning of the thread, a great deal of what you have posted is misleading and/or deceptive in that you imply many times that you are a post-IB...6
Allow me to translate: 1. Speak and act with...Allow me to translate: 1. Speak and act with confidence SMILE WHILE YOU BROWN NOSE 2. Have your elevator speech prepared – be able to talk about your experience and your contributions in 2 minutes or less DON'T BORE PEOPLE 3. Build a network – meet with peers and professionals...6
Let me guess, you're currently working in LevFin and...Let me guess, you're currently working in LevFin and have an inferiority complex. Am I wrong? I work in a coverage group. Grow up. Noone in their right mind would choose LevFin over M&A. Funny coming from a sophmore who had his eyes set on S&T just a short time ago. Capital markets work is...6
Of course, how could I forget 9. Career...Of course, how could I forget 9. Career progression The titles are different in each country but basically you start as an associate for the first 2-5 years of your career. This means you are helping the senior analyst by building and filling in models, gathering info from datastream,...6
A bit late to the game, but just wanted to chime in. My...A bit late to the game, but just wanted to chime in. My story's super long but it basically parallels yours quite closely. I had been gunning for equity research and/or M&A banking the the greater half of my college career. Senior spring rolled around and I didn't get offers from anywhere...6
I was on my phone the other day, and I heard an old guy...I was on my phone the other day, and I heard an old guy make a comment. "Kids these days waste all day on their phones playing pointless games." I turned around and said. "Is that so? Well I will let you know I just closed a 40 million dollar sale while you were making that, because I am old...6
Not really sure where you guys get your info: BAML...Not really sure where you guys get your info: BAML Sophomore Rotational is definitely diversity-focused (women, URM). http://campus.bankofamerica.com/americas/internship/gbam-sophomore-americas-scholarship-program.aspx I do not believe there is an alternative entry point into IBD for...6
Just to clarify a few things. BX is still very much...Just to clarify a few things. BX is still very much in the private equity business. The fact that the rest of their businesses have grown so large is not of any consequence. They have raised the largest PE fund post-crisis and with a $17bn fund and ~$3bn energy only PE fund, I think its...6
After reading the thread, I feel like I should chime...After reading the thread, I feel like I should chime in. 1) Mutual Funds - They are great vehicles for instant diversification of your investment. As the name itself says, it's a fund of mutual investors. Not everyone has access to large amounts of capital to make the MPT model work in their...6
Howard Marks at the Milken Institute Conference: Howard Marks at the Milken Institute Conference: 6
No, I don’t use quantitative screens. I’ve never...No, I don’t use quantitative screens. I’ve never liked them, but there are a lot of investors who are more successful than I could ever hope to be that use them so there is obviously a lot of merit to them. For instance, if I’m ever lucky enough to have annualized average returns over my...6
Why not, I'll bite. 1. Varies from year to year, but...Why not, I'll bite. 1. Varies from year to year, but for the last 3 cycles, the main process has either run during March / April of your 1st year (2012 and 2014 Associate classes) or January / February of your 2nd year (2013 Associate class) 2. Most funds have completed recruiting 2-3...6
"I hope those bananas you're collecting will cover our..."I hope those bananas you're collecting will cover our margin requirements"6
I believe in taking care of myself and a balanced diet...I believe in taking care of myself and a balanced diet and rigorous exercise routine. In the morning if my face is a little puffy I'll put on an ice pack while doing stomach crunches. I can do 1000 now. After I remove the ice pack I use a deep pore cleanser lotion. In the shower I use a water...6
This is for Summer 2013 Starts: Apollo: $140k base +...This is for Summer 2013 Starts: Apollo: $140k base + $125k stub Bain: $115k base + $175k full year Carlyle: $105k base + $175k KKR: $100k base + $175k TPG: $110k base + $70k stub Warburg Pincus: $125k base + $125k6
"troll" There is nothing trollish about this. "trolling:..."troll" There is nothing trollish about this. "trolling: submit a deliberately provocative posting to an online message board with the aim of inciting an angry response." Well, I checked Merrriam - Webster and nothing related to the internet connotation of "troll" is anywhere near its...6
Plot my revenge.Plot my revenge.6
Thanks for doing this. 1. What is your favorite...Thanks for doing this. 1. What is your favorite project that you have worked on and why? 2. What qualities/characteristics do you feel have best contributed to your overall success? 1) Will be vague here on purpose but my favorite was a strategy project for a major consumer tech company....6
What are you hungry for? What are your goals? There is...What are you hungry for? What are your goals? There is nothing we can advise you on if you don't provide that for us. If you don't want finance in the future, leaving the finance company name out of your resume won't make too much difference. However, since you posted on WSO, a finance...6
I don't know many people who went to Berkeley, but Haas...I don't know many people who went to Berkeley, but Haas is an incredible undergraduate business program so you really couldn't go wrong. I would think they place a few dozen students into investment banks each year. I can speak to UCLA because I went there. This is how it works: 99% of the...6
And I bet you still stubbed it incorrectly...... And I bet you still stubbed it incorrectly... The model took a lot of my time (to get a sense of how big / intricate the model is, it took me 20 hours to change the calculation period from semi-annual to quarterly). Associate got annoyed at several occasions because I was tied up with...6
It isn't impossible to move between firms at the end of...It isn't impossible to move between firms at the end of the summer. That brief flurry of recruiting in August and September where banks try to steal candidates from one another is called the incremental hiring period, and the guys who do best in it are often the ones who had multiple summer...6
@Tufts - not at all. Look at a basketball court in...@Tufts - not at all. Look at a basketball court in Short Hills and one in the West Village. The suburb court has a few people show up for pickup games. The courts in the village are BUSY, around the clock, and every age group takes their turn...and most are inner city blacks with a few...6
Current Penn student here. To be honest, as tragic as...Current Penn student here. To be honest, as tragic as these suicides are I have to say (like the other two Penn posters) that I am not at all surprised, and neither are most of my friends. This might not be a popular opinion, but it's a miracle that we've only had two. Anyone in...6
it seems they do a LOT of useless bitch work, I...it seems they do a LOT of useless bitch work, I think the problem is that sometimes we believe that they have something to offer and we fail to acknowledge that we really don't know a damn thing about how business works when we are just out of school. I'm sure you took "interviewing tips"...6
1. Price Discovery: Each region of the globe has...1. Price Discovery: Each region of the globe has different supply/demand dynamics that are not easily known, unlike stocks or futures. Prices within one hundred miles can vary wildly without every market participant knowing this. Traders who can understand these regional differences are able to...6
Q: Why did the banker cross the road? A: To get to the...Q: Why did the banker cross the road? A: To get to the buy-side6
Just thought I'd weigh in. I think I've built up just a...Just thought I'd weigh in. I think I've built up just a tiny bit of respect around here so hopefully it isn't dashed to pieces.by the following: 1. As I have said in so many other posts, this is probably a troll. If it isn't though, she deserves the kind of thoughtful advice that most of us...6
11 - You're a pointless list making slap dick. 11 - You're a pointless list making slap dick. 6
Nah, never again will I be able to compete at a high...Nah, never again will I be able to compete at a high level, playing the game I fell in love with at the age of four. I won't be able to bitch with my linemates about how bad our coach is overreacting after a road loss while we bag skate at 4 a.m. before classes on a Monday morning. No more team...6
So I did it and will continue tomorrow!!! So far I...So I did it and will continue tomorrow!!! So far I dropped off my resumes at 2 PE firms and 1 IB. All were really impressed and shocked at the same time. I would say I had more luck with the PE firms because each MPs told me that they would bring me up in their partners' meeting and asked me to...6
If you plan on not getting your wife a diamond ring, all...If you plan on not getting your wife a diamond ring, all I can say is, good luck.6
LOL @ all these finance nerds talking a big game. I know...LOL @ all these finance nerds talking a big game. I know you all think you're so intellectually superior and above societal norms, but there's no fucking way a normal girl would let you get away with not getting her a diamond ring. 99.9% of every girl has been dreaming about that moment...6
I think "Islamic finance" is a complete joke and an...I think "Islamic finance" is a complete joke and an insult to the intelligence of the Islamic God (if He exists). One of our clients is working on a major real estate development project and this client is a wealth fund from the UAE. I saw the write-up on the loan that we issued them with the...6
New York Times: "Marrying with HR to get into dream...New York Times: "Marrying with HR to get into dream company is on the rise: an effective strategy for non-target students to compete with their Ivy-League counterparts"6
I've interned year round and just save money. I also...I've interned year round and just save money. I also like to trade stocks and operate a small shop on eBay. By no means does a MacBook costs mean nothing to me. I financed it and am paying it off in a few months, that's why it isn't a huge burden right now financially. That's why I asked WSO...6
Which one of you candy-assed Goldman PWM jerkoffs is...Which one of you candy-assed Goldman PWM jerkoffs is throwing monkey shit?6
GoldenCinderblock: RichButLucky: jss09: I... GoldenCinderblock: RichButLucky: jss09: I retract my previous statement, heres what you should do.. -Get a Pre-Nup Hope this helps! Depressing but logically sound advice. I'll think about it (or try to), but considering I met my fiance my freshman year of college, I don't...6
Something to bite down on.Something to bite down on.6
Stumbled into IB after initially starting along the path...Stumbled into IB after initially starting along the path to be a tax lawyer, followed taking on the path to be an M&A/ECM lawyer. All up, around 9 years being a lawyer before I flipped to being banker. Enjoy it thoroughly now because I get to dive deep into many different rabbit holes...6
IBD vs. PWMIBD vs. PWM6
After you graduate from HBS and go to a PE/HF, a guy in...After you graduate from HBS and go to a PE/HF, a guy in a green suit named Steve comes and you follow him to a secret lair. This is where you start your pledging process for Illuminati. Now, pledging is serious so don't get complacent (only top bucket pledges make it all the way through). If you...6
"Prove your Dick Fuld, post a picture of yourself in..."Prove your Dick Fuld, post a picture of yourself in front of a monitor showing WSO. Until then I will assume your a desperate attention seeking loser." - mkDiz Looks like the ball is in your court, @"mkDiz"6
You could probably put some lipstick on her brotherYou could probably put some lipstick on her brother6
Personally, I love high maintenance girls. To me there's...Personally, I love high maintenance girls. To me there's something sexy about a very hot, well educated upper class girl who demands attention and fine quality. But to each his own.6
You could've saved a whole lot of words by just calling...You could've saved a whole lot of words by just calling it as is: "Its a shit hole."6
Love your work. How was the pay bump? Here are some...Love your work. How was the pay bump? Here are some numbers for people looking for data: Analyst Year - Base / All-In Potential 1st - 70 / 130-140 2nd - 80 / 150-160 3rd - 90 / 170-180 1st year PE associate all-in: ~220. Includes cash salary, guaranteed cash bonus, and carry...6
As my first post I will provide some tips I learned...As my first post I will provide some tips I learned during my communicology education: The brain retains information in 4 ways: Through audio, feeling, seeing and taste. The best way to remember information is to reinforce the mental information through associations. For this purpose it is...6
"It's pronounced 'tar-jay'...""It's pronounced 'tar-jay'..."6
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Funny, I've been contemplating writing a post for WSO...Funny, I've been contemplating writing a post for WSO titled: "Have fun with it." I do believe I will begin typing it up. You need to identify why you are unhappy and either change those things, change your outlook or both. If all else fails... see a doctor and start popping xanax like tic...6
sounds like communism to me. you're essentially saying...sounds like communism to me. you're essentially saying "look, you have all this money, why not share it, besides, it's good PR!" I bet this guy would feel differently if he worked at WellsCap in SanFran instead of loan collections in Oregon, just sayin. it brings up a good issue that's...6
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boned an ethnic boned an ethnic 6
Is this even a decision WSO can help with? If you...Is this even a decision WSO can help with? If you have a girlfriend and WSO says dump her, will you actually go through with it? Or, is it more likely that you have no girlfriend and never get any action and you know WSO will say no girlfriend is preferable, so you ask the question and feel...6
The spill over into personal life. One time something...The spill over into personal life. One time something happened to me That is how your post reads without the details.6
I think there is a lot of good information in this...I think there is a lot of good information in this thread but its probably helpful to first start with some concrete data. US Oil & Gas M&A League Tables ***US only to exclude international deals which are not done in Houston and Oil & Gas (vs. Energy) to exclude Power, Utilities, etc. deals...6
Equity: Owning a company at the very bottom of their...Equity: Owning a company at the very bottom of their capital structure, I would say that the research done for equity has to be much, much more involved in digging into the modeling numbers since the upside and the downside volatility is more significant than in Credit (note: assuming there is a...6
Makes sense, I've always made more money than everyone...Makes sense, I've always made more money than everyone else, now I know why.6
As an educated, hard working, former international...As an educated, hard working, former international student in the US, I am appalled by how Obama handles this. I studied in the US for 5 years (undergrad + grad school) and worked for 4 years before being laid off during the crises and I had to return home. I am now fighting my way back to...6
immigrants do jobs Americans don't want to do. Yeah....immigrants do jobs Americans don't want to do. Yeah. They do shit that Americans won't do for 3 bucks an hour. Increase wages and you'll find Americans who will do it. That's kind of the catch 22 that America has painted itself into a corner with. Without support for unions or whatever...6
I have had to deal with this in my career due to past...I have had to deal with this in my career due to past experiences while drinking. I still drink socially but I am very selective about when/where/and the circumstances involved. There are many occasions when I am at mixers or social events focused on work where I will not let myself drink...6
You objectify females through your posts which are...You objectify females through your posts which are highly misogynistic in nature. Nobody's a fan of that. 6
* WSO Score = Number of SBs (minus) Number of MSs.